Guideline Value for SAROJINI NAGAR

Sarojini Nagar guideline value

The current guideline value of Sarojini Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Sarojini Nagar has changed

The guideline value for Sarojini Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,500 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current value for Sarojini Nagar.

• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)
• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Seetthalakshmi Nagar: Rs 1,900 per sq.ft (2024)
• Sekkizhar Street: Rs 4,000 per sq.ft (2024)
• Saminathapuram: Rs 2,700 per sq.ft (2024)
• Sabari Garden: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarojini Nagar?

The Sarojini Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor when registering a property in Vengaivasal. It determines the minimum value at which a property can be sold or transferred, ensuring transparency in property transactions.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarojini Nagar?

The current guideline value of Sarojini Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Sarojini Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification for Sarojini Nagar?

The land classification for Sarojini Nagar is Mixed Type - II, which indicates the type of development permissible in the area.