Guideline Value for Saranath Street

Saranath Street guideline value

The current guideline value of Saranath Street is Rs 1,500 per sq.ft, as per the 2023 revision. This street is located in Vandalur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Saranath Street has changed

The guideline value for Saranath Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 550 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a substantial rise of 173%. However, in the 2017 revision, the guideline value dropped to Rs 1,005 per sq.ft, which represented a decrease of 33%. The most recent revision in 2023 saw the guideline value return to Rs 1,500 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for Saranath Street.

Guideline values in Vandalur

Currently, there are no specific village figures provided for Vandalur. Saranath Street is one of the streets in this locality, and there are no other streets in Vandalur under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Saranath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Saranath Street?

The Sub Registrar Office that covers Saranath Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vandalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Saranath Street?

The current guideline value of Saranath Street is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Saranath Street?

The land classification for Saranath Street is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and registration fees at 2% based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,35,000.