Guideline Value for SERASA DESTINY PHASE-I

Serasa Destiny Phase-I guideline value

The current guideline value of Serasa Destiny Phase-I is Rs 2,860 per sq.ft, effective from 1 July 2024. This property is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class III Type - V.

How the guideline value of Serasa Destiny Phase-I has changed

Over the years, the guideline value for Serasa Destiny Phase-I has seen several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,600 per sq.ft, which increased by 10% to Rs 2,860 per sq.ft in the 2024 revision.

This reflects a consistent adjustment in the guideline value, with the 2024 figure being the highest recorded for this street. The changes from the 2023 to 2024 revision indicate a growing valuation in the area.

Guideline values in Varadarajapuram

Varadarajapuram has a total of 250 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, placing Serasa Destiny Phase-I above this median.

• Serasa Destiny Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Fortune: Rs 2,420 per sq.ft (2024)
• Serasa Furtune Phase-II: Rs 2,860 per sq.ft (2024)
• Serasa Opel: Rs 2,960 per sq.ft (2024)
• Senthil Nagar @ Shri Lakshmi Narashimhar Avenue: Rs 1,320 per sq.ft (2024)
• Serasa Sangaamam Avenue: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Serasa Destiny Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, while the registration fee at 2% would be Rs 57,200. Together, the total cost for these fees would be Rs 2,57,400. It is important to note that 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 Serasa Destiny Phase-I?

The Sub Registrar Office that covers Serasa Destiny Phase-I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When you buy or sell property, the guideline value will be used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Serasa Destiny Phase-I?

The current guideline value of Serasa Destiny Phase-I is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,860 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification for Serasa Destiny Phase-I?

Serasa Destiny Phase-I is classified as Residential Class III Type - V, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in Serasa Destiny Phase-I?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,57,400.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. This office handles the registration of properties in the area.