Guideline Value for SARAVANA NAGAR

Saravana Nagar guideline value

The current guideline value of Saravana Nagar, located in Thandurai village under the Avadi Sub Registrar Office (SRO), is Rs 988 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Saravana Nagar has changed

The guideline value for Saravana Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the most recent 2024 revision raised it further to Rs 988 per sq.ft, marking a 10% increase from the previous year.

When examining the changes between these revisions, the 2017 to 2023 period saw a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value for these streets is Rs 988 per sq.ft, which aligns with the guideline value of Saravana Nagar.

• Saraswathy St, Cholan Nagar: Rs 988 per sq.ft (2024)
• Sasthiri Nagar All Streets, (Railway Line Northern): Rs 988 per sq.ft (2024)
• Sanjeevi Nagar: Rs 988 per sq.ft (2024)
• Sanjai Gandhi St: Rs 800 per sq.ft (2024)
• Sandhai St (M.T.H.Road Southern Side): Rs 1,980 per sq.ft (2024)
• Salamon St, Venkateswara Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, bringing the total to Rs 88,920. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar?

The Saravana Nagar area falls under the jurisdiction of the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thandurai. 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 must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saravana Nagar?

The current guideline value of Saravana Nagar is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 988 per sq.ft in 2024.

What is the land classification of Saravana Nagar?

Saravana Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Saravana Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 9,88,000 would incur a stamp duty of Rs 69,160 at 7%.