Guideline Value for SRI SARAVANABHAVAN NAGAR

Sri Saravanabhavan Nagar guideline value

The current guideline value of Sri Saravanabhavan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Santhavellur village under the Sunguvarchattram SRO and is classified as Mixed Type - I land.

How the guideline value of Sri Saravanabhavan Nagar has changed

The guideline value for Sri Saravanabhavan Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, showing a significant rise of 49%. The 2024 revision maintained this value at Rs 1,000 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Sri Saravanabhavan Nagar's 2024 figure above this median.

• Sri sastha nagar: Rs 1,046 per sq.ft (2024)
• Sri Usha Nagar: Rs 700 per sq.ft (2024)
• Sri vishnu gardens: Rs 600 per sq.ft (2024)
• Sri ramanujar nagar: Rs 600 per sq.ft (2024)
• Srinivasa Nagar: Rs 305 per sq.ft (2024)
• Sunguvarchitram Walajabad Main Road: Rs 1,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravanabhavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 to estimate your costs.

Which Sub Registrar Office covers Sri Saravanabhavan Nagar?

Sri Saravanabhavan Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Santhavellur. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official value of the property.

When a property is sold, the guideline value helps determine the official value for taxation purposes, which can affect both the buyer and the seller. It is essential to be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sri Saravanabhavan Nagar?

The current guideline value of Sri Saravanabhavan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 and has remained the same in 2024, showing a 49% increase overall from 2017 to 2024.

What is the registration office for Sri Saravanabhavan Nagar?

The registration office for Sri Saravanabhavan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Saravanabhavan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at a rate of 7%.

What is the land classification for Sri Saravanabhavan Nagar?

Sri Saravanabhavan Nagar is classified as Mixed Type - I land, which can influence the guideline value and property usage regulations.