Guideline Value for SARAVANA NAGAR RAMACHANDRAN STREET

Saravana Nagar Ramachandran Street guideline value

The current guideline value of Saravana Nagar Ramachandran Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saravana Nagar Ramachandran Street has changed

The guideline value for Saravana Nagar Ramachandran Street has seen several revisions over the years. In 2002, the guideline value was Rs 155 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a change of +61%. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, a change of +140%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of +233%. However, it then decreased to Rs 1,340 per sq.ft in 2017, showing a decline of -33%. The value increased again to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024, a change of +10%.

There are no figures available for the revisions prior to 2002 or between the years not mentioned in the provided data.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry 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. The guideline value of Saravana Nagar Ramachandran Street is below this median.

• Saravana Nagar Slum Area: Rs 1,700 per sq.ft (2024)
• Saravana Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• 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)
• Seevaram 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar Ramachandran 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar Ramachandran Street?

The Sub Registrar Office that covers Saravana Nagar Ramachandran Street is 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 property transactions in Seevaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Saravana Nagar Ramachandran Street?

The current guideline value of Saravana Nagar Ramachandran 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 significantly from Rs 155 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1319% over the years.

What is the classification of Saravana Nagar Ramachandran Street?

Saravana Nagar Ramachandran Street is classified as Residential Class II Type - II under the Neelankarai SRO.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Saravana Nagar Ramachandran Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saravana Nagar Ramachandran Street?

The Neelankarai Sub Registrar Office covers Saravana Nagar Ramachandran Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.