Guideline Value for Sarangaraj Kumar Street

Sarangaraj Kumar Street guideline value

The current guideline value of Sarangaraj Kumar Street is Rs 4,400 per sq.ft. This street is located in Hastinapuram village, under the Pallavaram SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Sarangaraj Kumar Street has changed

The guideline value for Sarangaraj Kumar Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 801 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 399% rise. However, the value then dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 449%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 2,970 per sq.ft, placing Sarangaraj Kumar Street's 2024 figure above this median.

• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Saraswathi Vidyalaya School Street: Rs 1,650 per sq.ft (2024)
• Saraswathy Nagar: Rs 3,300 per sq.ft (2024)
• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)
• Sankarlal jain Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Sarangaraj Kumar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarangaraj Kumar Street?

The Sub Registrar Office covering Sarangaraj Kumar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees.

It is essential for both buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. Understanding the guideline value helps ensure compliance with local regulations and assists in accurate financial planning.

Frequently asked questions

What is the current guideline value of Sarangaraj Kumar Street?

The current guideline value of Sarangaraj Kumar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 801 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 449% over the years.

What is the land classification for Sarangaraj Kumar Street?

The land classification for Sarangaraj Kumar Street is Mixed Type - I, indicating a diverse use of land in this area.

Where can I find the Sub Registrar Office for Sarangaraj Kumar Street?

The Sub Registrar Office for Sarangaraj Kumar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.