Guideline Value for SARAWATHI GARDEN

Sarawathi Garden guideline value

The current guideline value of Sarawathi Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sarawathi Garden has changed

The guideline value for Sarawathi Garden has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 124%, raising the value to Rs 3,000 per sq.ft. The most recent revision in 2024 has seen another increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Sarawathi Garden's 2024 figure above this median.

• Sardarpatel Road: Rs 1,700 per sq.ft (2024)
• Sarathadevi Garden: Rs 1,100 per sq.ft (2024)
• Savaithiri Garden: Rs 3,300 per sq.ft (2024)
• Saviour Garden: Rs 1,100 per sq.ft (2024)
• Sankarraman Garden: Rs 1,100 per sq.ft (2024)
• Samuel / Surendran Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sarawathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sarawathi Garden?

The Sub Registrar Office that covers Sarawathi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is registered at a value that reflects its worth according to the local government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher amount between the guideline value and the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarawathi Garden?

The current guideline value of Sarawathi Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the median guideline value for streets in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, with Sarawathi Garden's value being above this median.

What are the stamp duty rates for properties in Sarawathi Garden?

The stamp duty for properties in Sarawathi Garden is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.