Guideline Value for Saran Nagar

Saran Nagar guideline value

The current guideline value of Saran Nagar, located in Maakaanyam village, is Rs 110 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Saran Nagar has changed

The guideline value for Saran Nagar has seen several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft. This figure decreased to Rs 67 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 100 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 110 per sq.ft, reflecting a rise of 10% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Saran Nagar is below this median.

• Sanjeevai Garden: Rs 500 per sq.ft (2024)
• RPG Gopika Garden: Rs 150 per sq.ft (2024)
• Shanthi Avenue: Rs 300 per sq.ft (2024)
• Sky home city: Rs 350 per sq.ft (2024)
• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Sri city: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Saran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 110 per sq.ft, the total guideline value amounts to Rs 1,10,000. The stamp duty is charged at 7%, which totals Rs 7,700, and the registration fee is 2%, amounting to Rs 2,200. Together, the total fees would be Rs 9,900. It is important 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 information.

Which Sub Registrar Office covers Saran Nagar?

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

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

The guideline value plays a crucial role in property transactions in Maakaanyam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value helps in standardizing property transactions and provides a reference point for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Saran Nagar?

The current guideline value of Saran Nagar is Rs 110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 110 per sq.ft in 2024.

What are the other streets in Maakaanyam with their guideline values?

Other streets in Maakaanyam include Sanjeevai Garden at Rs 500 per sq.ft, RPG Gopika Garden at Rs 150 per sq.ft, Shanthi Avenue at Rs 300 per sq.ft, Sky home city at Rs 350 per sq.ft, Sri Balaji Nagar at Rs 300 per sq.ft, and Sri city at Rs 250 per sq.ft.

What fees are associated with buying property in Saran Nagar?

When buying property in Saran Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 9,900.

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

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