Guideline Value for SERASA PRIDE PHASE - 2

Serasa Pride Phase - 2 guideline value

The current guideline value of Serasa Pride Phase - 2 is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Thiruvancheri village, under the Pallavaram SRO, and falls under the Residential Special Type - III land classification.

How the guideline value of Serasa Pride Phase - 2 has changed

The guideline value for Serasa Pride Phase - 2 has undergone several revisions over the years. In the 2017 revision, the guideline value was Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, there has been a 10% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street, indicating a lack of registered values during those years.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Serasa Pride Phase - 2 is above this median.

• Serasa Pride Phase - III: Rs 3,850 per sq.ft (2024)
• Serenity Paradise: Rs 3,850 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 1,980 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 1,980 per sq.ft (2024)
• Sathish Avenue Phase I: Rs 2,530 per sq.ft (2024)
• Siva Shanmuga Pillai Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Serasa Pride Phase - 2

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Serasa Pride Phase - 2?

The Serasa Pride Phase - 2 property falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor used during the registration process of property transactions in Thiruvancheri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling a property, the guideline value helps establish a baseline for the transaction price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Serasa Pride Phase - 2?

The current guideline value for Serasa Pride Phase - 2 is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,500 per sq.ft from 2017 to 2023 and increased to Rs 3,850 per sq.ft in 2024. This represents a 10% increase from the previous year and a 10% increase overall from 2017 to 2024.

What is the land classification for Serasa Pride Phase - 2?

Serasa Pride Phase - 2 is classified under Residential Special Type - III, which indicates its designation for residential use within the area.

What are the stamp duty and registration fees for properties in Serasa Pride Phase - 2?

The stamp duty for a property valued at Rs 38,50,000 is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Thiruvancheri?

The Pallavaram Sub Registrar Office handles registrations for properties in Thiruvancheri. The office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.