Guideline Value for SAROJA NAGAR

Saroja Nagar guideline value

The current guideline value of Saroja Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Maiyur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Saroja Nagar has changed

The guideline value for Saroja Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased to Rs 400 per sq.ft in 2012. This was a significant increase of 300%. However, from 2012 to 2017, the value decreased by 33% to Rs 268 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 400 per sq.ft, showing no change from the previous year.

As of the 2024 revision, the guideline value remains at Rs 400 per sq.ft, reflecting a 49% increase from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 300%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Saroja Nagar is equal to this median.

• Ruby Garden Phase -II: Rs 401 per sq.ft (2024)
• Ruby Garden Phase -I: Rs 401 per sq.ft (2024)
• Rubi Garden: Rs 350 per sq.ft (2024)
• Rmp Nagar: Rs 200 per sq.ft (2024)
• Rajendran Nagar: Rs 400 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Saroja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value is Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total Rs 36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saroja Nagar?

The Sub Registrar Office that covers Saroja Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Maiyur. It serves as a reference point for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When you buy or sell property, the guideline value is used to calculate the necessary fees, ensuring that all transactions are conducted in accordance with the regulations set by the Registration Department. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Saroja Nagar?

The current guideline value of Saroja Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and finally returned to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Saroja Nagar?

Saroja Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Saroja Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft has a guideline value of Rs 4,00,000, leading to a stamp duty of Rs 28,000.