Guideline Value for Saranga Avenue

Saranga Avenue guideline value

The current guideline value of Saranga Avenue is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Saranga Avenue has changed

The guideline value for Saranga Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,100 in 2012. However, it dropped to Rs 1,407 per sq.ft in the 2017 revision, before rising again to Rs 2,100 in 2023. The most recent revision in 2024 set the value at Rs 2,310 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 824%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is the same as the current value for Saranga Avenue.

• Saraswathi Nagar: Rs 2,970 per sq.ft (2024)
• Santhosh Nagar: Rs 1,650 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 per sq.ft (2024)
• Sankaralaya Apartments: Rs 2,640 per sq.ft (2024)
• Sardar Adikesavalu Nagar: Rs 1,650 per sq.ft (2024)
• Sanjay Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Saranga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total cost to Rs 2,07,900. Please 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 for more details.

Which Sub Registrar Office covers Saranga Avenue?

The Sub Registrar Office that covers Saranga Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saranga Avenue?

The current guideline value of Saranga Avenue is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, marking an overall increase of 824%.

What are the stamp duty rates for properties in Saranga Avenue?

The stamp duty for properties in Saranga Avenue is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Saranga Avenue?

The Padappai Sub Registrar Office handles property registrations for Saranga Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, which is the same as the current value for Saranga Avenue.