Guideline Value for SERASA PRIDE PHASE - III

Serasa Pride Phase - III guideline value

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

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

The guideline value for Serasa Pride Phase - III has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in the 2023 revision, marking a change of +10%. The register has no figure for this street in the revisions of 2002, 2003, 2007, 2012, and 2017.

From the 2023 to the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft. Prior to this, the 2023 revision had set the value at Rs 3,500 per sq.ft. The absence of figures for the earlier years indicates that there were no recorded changes for this street during those periods.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry 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 of Serasa Pride Phase - III is above this median.

• Serasa Pride Phase - 2: 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 - III

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Serasa Pride Phase - III?

The Sub Registrar Office covering Serasa Pride Phase - III is 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 Thiruvancheri

The guideline value is a critical factor during the registration of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives its due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must be aware of this value to avoid discrepancies during the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Serasa Pride Phase - III?

The current guideline value of Serasa Pride Phase - III 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Serasa Pride Phase - III?

Serasa Pride Phase - III is classified as Residential Special Type - III under the Pallavaram SRO.

What are the stamp duty and registration fees for property in Serasa Pride Phase - III?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Which office handles the registration for Serasa Pride Phase - III?

The registration for Serasa Pride Phase - III is handled by the Pallavaram Sub Registrar Office, located in Chennai, Tamil Nadu.