Guideline Value for SARAVANA STREET

Saravana Street guideline value

The current guideline value of Saravana Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Saravana Street has changed

Looking at the historical revisions, the guideline value for Saravana Street has seen significant changes over the years. In 2002, the value was Rs 1,393 per sq.ft, which increased to Rs 1,750 per sq.ft in 2003, marking a rise of 26%. The value continued to climb, reaching Rs 4,068 per sq.ft in 2007, a substantial increase of 132%. Following this, the value surged to Rs 12,000 per sq.ft in 2012, reflecting a remarkable growth of 195%. However, from 2012 to 2017, the value dropped to Rs 8,040 per sq.ft, which was a decline of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, and as of 2024, it stands at Rs 13,200 per sq.ft, showing an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 848%. There are no figures available for revisions in years not mentioned in the register.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Saravana Street's 2024 figure above this median.

• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Saradambal Street: Rs 11,000 per sq.ft (2024)
• Seeranipuram: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, making the total cost for these fees Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Street?

The Sub Registrar Office that covers Saravana Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees.

Understanding the guideline value is essential for buyers and sellers alike, as it ensures compliance with local regulations during the property transfer process. It is advisable to consult the guideline value register for the most accurate and up-to-date information before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Saravana Street?

The current guideline value of Saravana Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,393 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 848% over this period.

What is the land classification of Saravana Street?

Saravana Street is classified as Mixed Special Type - II, which is relevant for determining its guideline value.

What are the stamp duty and registration fees for properties in Saravana Street?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office handles registrations for Saravana Street?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, is responsible for handling registrations for Saravana Street.