Guideline Value for SAVADI STREET

Savadi Street guideline value

The current guideline value of Savadi Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Savadi Street has changed

Over the years, the guideline value of Savadi Street has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which significantly increased to Rs 750 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft before rising again to Rs 750 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The changes between revisions highlight a notable increase of 1150% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, with the overall change from 2007 to 2024 remaining at 1150%. The register has no figures for Savadi Street in the years 2002 and 2003.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, making Savadi Street's 2024 figure equal to this median.

• Savurimuthu St: Rs 750 per sq.ft (2024)
• Saravana Mudai Street: Rs 750 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 500 per sq.ft (2024)
• Selva Vinayagar Nagar Extension -I: Rs 750 per sq.ft (2024)
• Serkadu Balavinayagar Koil Stret: Rs 750 per sq.ft (2024)
• Serkadu Gangai Vinauagar Koil Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Savadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty, charged at 7%, would be Rs 52,500, and the registration fee, charged at 2%, would be Rs 15,000, bringing the total costs together to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Savadi Street?

The Sub Registrar Office that covers Savadi Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Walajabad. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the property is valued fairly and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Savadi Street?

The current guideline value of Savadi Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Savadi Street has changed significantly from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and returned to Rs 750 per sq.ft in 2023 and 2024.

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

For a 1,000 sq.ft property valued at Rs 750 per sq.ft, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

Which Sub Registrar Office is responsible for Savadi Street?

The Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone, is responsible for Savadi Street.

What is the land classification for Savadi Street?

Savadi Street is classified as Residential Class IV Type - I, which is relevant for determining its guideline value and usage.