Guideline Value for SARAVANAN STREET

Saravanan Street guideline value

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

How the guideline value of Saravanan Street has changed

The guideline value for Saravanan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced 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 finally, it rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value for Saravanan 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 in the village is Rs 2,200 per sq.ft, placing Saravanan Street's 2024 figure below this median.

• Saravanan Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saravanan Street?

The Sub Registrar Office that covers Saravanan 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair price.

When registering a property, the buyer must pay stamp duty and registration fees 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 Saravanan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Saravanan Street?

Saravanan Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the other streets in Jelandianpettai with similar guideline values?

Other streets in Jelandianpettai include Saravanan Cross Street and Sasthiri Street, both at Rs 1,650 per sq.ft, and Sarojani Garden at Rs 1,870 per sq.ft.

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

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