Guideline Value for SAROJINI ST EXTENSION

Sarojini St Extension guideline value

The current guideline value of Sarojini St Extension in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Sarojini St Extension has changed

Over the years, the guideline value for Sarojini St Extension has seen several revisions. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. This marked a significant decrease of 33%. However, from 2017 to 2023, the value increased to Rs 3,000 per sq.ft, reflecting a substantial rise of 49%. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current value for Sarojini St Extension.

• Sarojini Street: Rs 3,300 per sq.ft (2024)
• Sarojini Cross Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 1st Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini St Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarojini St Extension?

The Sarojini St Extension is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. 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 Sarojini St Extension?

The current guideline value of Sarojini St Extension 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a rise of 49% from 2017 to 2023.

What is the classification of land in Sarojini St Extension?

Sarojini St Extension is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Sarojini St Extension?

The Pallavaram Sub Registrar Office covers Sarojini St Extension and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sarojini St Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.