Guideline Value for SARAVANA NAGAR

Saravana Nagar guideline value

The current guideline value of Saravana Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saravana Nagar has changed

Since the year 2002, the guideline value for Saravana Nagar has seen significant changes. The value started at Rs 134 per sq.ft in 2002 and gradually increased to Rs 157 per sq.ft in 2003. Following this, the value surged to Rs 500 per sq.ft in 2007, and then to Rs 1,400 per sq.ft in 2012. However, it dropped to Rs 938 per sq.ft in 2017 before rising again to Rs 1,400 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,500 per sq.ft, marking a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,019%. The register does not contain figures for any revisions other than those mentioned above.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Saravana Nagar is below this median.

• Saraswathipuram: Rs 1,500 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,500 per sq.ft (2024)
• Sathandapuram New Colony: Rs 2,800 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)
• Selvavinayagar Koil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saravana Nagar?

The Sub Registrar Office that covers Saravana Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Thiruvottiyur. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer and seller must consider the guideline value to calculate the necessary fees. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Saravana Nagar?

The current guideline value of Saravana Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, showing an overall increase of 1,019% over this period.

What is the classification of Saravana Nagar?

Saravana Nagar is classified as Residential Class II Type - II, indicating its designation for residential use within the area.

What are the registration fees in Saravana Nagar?

The registration fees are calculated based on the guideline value, which is Rs 1,500 per sq.ft. For example, for a 1,000 sq.ft plot, the total registration fees would be Rs 1,35,000, including stamp duty and registration fees.

Where is the Sub Registrar Office for Saravana Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, and it handles registrations for Saravana Nagar.