Guideline Value for Saraswathi Street

Saraswathi Street guideline value

The current guideline value of Saraswathi Street in Kovilpathagai village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Saraswathi Street has changed

Over the years, the guideline value for Saraswathi Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following that, there was a significant increase to Rs 800 per sq.ft in the 2023 revision, and the latest revision in 2024 has raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

Notably, the register has no figures for this street for the years 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing the guideline value of Saraswathi Street above this median.

• Sannathi Street: Rs 880 per sq.ft (2024)
• Sankaralingam Street: Rs 880 per sq.ft (2024)
• Sayabu Street: Rs 805 per sq.ft (2024)
• School Street: Rs 880 per sq.ft (2024)
• R.R.Nagar Extn (S.No.426/7): Rs 880 per sq.ft (2024)
• R.R .Nagar Extn.: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total Rs 79,200. Please note that 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 details.

Which Sub Registrar Office covers Saraswathi Street?

The Sub Registrar Office that covers Saraswathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Street?

The current guideline value of Saraswathi Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Saraswathi Street?

Saraswathi Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Saraswathi Street?

The Sub Registrar Office for Saraswathi Street is the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.