Guideline Value for SARAVANAN CROSS STREET

Saravanan Cross Street guideline value

The current guideline value of Saravanan Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Saravanan Cross Street has changed

The guideline value for Saravanan Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value saw a decrease of 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Saravanan Cross Street’s 2024 figure is below that median.

• Saravanan Street: Rs 1,650 per sq.ft (2024)
• Sarojani Garden: Rs 1,870 per sq.ft (2024)
• Sasthiri Street: Rs 1,650 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 2,200 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Sairam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Saravanan Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Saravanan Cross Street?

The Sub Registrar Office that covers Saravanan Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saravanan Cross Street?

The current guideline value of Saravanan Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase.

What is the land classification of Saravanan Cross Street?

Saravanan Cross Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Saravanan Cross Street?

The Sub Registrar Office for Saravanan Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.