Guideline Value for SRI SARAVANA NAGAR

Sri Saravana Nagar guideline value

The current guideline value of Sri Saravana Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Saravana Nagar has changed

The guideline value for Sri Saravana Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value for Sri Saravana Nagar has shown no net change, remaining at Rs 500 per sq.ft. The consistent figure in recent revisions indicates stability in the guideline value for this area.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. Sri Saravana Nagar's 2024 guideline value aligns with this median.

• Sri Saravana Nagar Phase I: Rs 500 per sq.ft (2024)
• Sri SaiRam Nagar: Rs 600 per sq.ft (2024)
• Sri Shanmuga Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sri Suraikai Chittar Nagar: Rs 400 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Saravana Nagar?

The Sub Registrar Office that covers Sri Saravana Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Orathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value serves as a reference point for the government to assess the property value. This ensures that the transaction is documented accurately and that the appropriate taxes are levied based on the property's worth.

Frequently asked questions

What is the current guideline value of Sri Saravana Nagar?

The current guideline value of Sri Saravana Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Saravana Nagar has seen changes from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, and then back to Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Saravana Nagar?

Sri Saravana Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sri Saravana Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Saravana Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property in Sri Saravana Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, which is also based on the same value.