Guideline Value for SAROJINI STREET

Sarojini Street guideline value

The current guideline value of Sarojini Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Sarojini Street has changed

Over the years, the guideline value of Sarojini Street has seen significant changes. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 2,330 per sq.ft. This increased to Rs 3,200 per sq.ft in 2003, marking a rise of 37%. The value further increased by 25% to Rs 4,000 per sq.ft in 2007. However, from 2007 to 2012, the value jumped dramatically to Rs 16,000 per sq.ft, reflecting a 300% increase. In 2017, the value decreased to Rs 10,720 per sq.ft, a decline of 33%. The guideline value then rose to Rs 16,000 per sq.ft in 2023, representing a 49% increase, before reaching the current figure of Rs 17,600 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 shows an increase of 655% in the guideline value.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Sarojini Street's 2024 figure above this median.

• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Saradambal Street: Rs 11,000 per sq.ft (2024)
• Seeranipuram: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, while the registration fee at 2% would be Rs 3,52,000. Together, the total fees would be Rs 15,84,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Sarojini Street?

The Sub Registrar Office that covers Sarojini Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is essential when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions. Buyers and sellers must be aware that the guideline value impacts the stamp duty and registration fees applicable during the sale.

When a property is bought or sold, the guideline value helps in calculating the financial obligations that arise from the transaction. This ensures that both parties are aware of the costs involved and can plan accordingly. It is advisable to consult the guideline value before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value of Sarojini Street?

The current guideline value of Sarojini Street is Rs 17,600 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 2,330 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 655%.

What is the land classification of Sarojini Street?

Sarojini Street is classified as Commercial Special Type - III under the Thiyagaraya nagar SRO.

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

For a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000 and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Where is the Sub Registrar Office for Sarojini Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.