Guideline Value for Saralavathi Nagar

Saralavathi Nagar guideline value

The current guideline value of Saralavathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Saralavathi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 469 per sq.ft. This figure remained unchanged in the 2023 revision, which was also Rs 700 per sq.ft. The 2024 revision has kept the guideline value at Rs 700 per sq.ft, marking a 49% increase from the 2017 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Saralavathi Nagar. The guideline value has shown no change from 2023 to 2024, maintaining a consistent rate of Rs 700 per sq.ft.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current guideline value of Saralavathi Nagar.

• Saralavathi Garden: Rs 1,000 per sq.ft (2024)
• Sarala Nagar: Rs 700 per sq.ft (2024)
• Santhosh Nagar: Rs 1,200 per sq.ft (2024)
• Santhi Avenue: Rs 800 per sq.ft (2024)
• Sannathi Street: Rs 700 per sq.ft (2024)
• Sarojini Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Saralavathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Saralavathi Nagar?

The Sub Registrar Office that covers Saralavathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process of property transactions in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's worth as per the official guidelines.

Frequently asked questions

What is the current guideline value of Saralavathi Nagar?

The current guideline value of Saralavathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 and has remained at Rs 700 per sq.ft in 2024. There were no figures available for the revisions in 2002, 2003, 2007, and 2012.

What is the land classification of Saralavathi Nagar?

Saralavathi Nagar is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Saralavathi Nagar?

The Sub Registrar Office for Saralavathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Saralavathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.