Guideline Value for SARAVANA NAGAR 4TH CROSS STREET

Saravana Nagar 4th Cross Street guideline value

The current guideline value of Saravana Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Saravana Nagar 4th Cross Street has changed

The guideline value for Saravana Nagar 4th Cross Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,340 per sq.ft in the 2017 revision. The value then rose to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The jump from the 2012 revision to the 2017 revision saw a decrease of 33%. The most notable increase was from the 2007 revision to the 2012 revision, with a remarkable 233% rise. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft, with a median value of Rs 2,800 per sq.ft. Saravana Nagar 4th Cross Street's 2024 guideline value of Rs 2,200 per sq.ft is below this median.

• Saravana Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Saravana Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Saravana Nagar Ramachandran Street: Rs 2,200 per sq.ft (2024)
• Saravana Nagar Slum Area: Rs 1,700 per sq.ft (2024)
• Seevaram 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total amount payable Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar 4th Cross Street?

The Saravana Nagar 4th Cross Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Seevaram

The guideline value is a crucial factor in the registration process when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. The registration office uses this value to calculate the applicable fees, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of Saravana Nagar 4th Cross Street?

The current guideline value of Saravana Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Saravana Nagar 4th Cross Street?

The Neelankarai Sub Registrar Office is responsible for Saravana Nagar 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Saravana Nagar 4th Cross Street?

The land classification for Saravana Nagar 4th Cross Street is Residential Class II Type - II.