Guideline Value for Saraswathi Arul Nagar

Saraswathi Arul Nagar guideline value

The current guideline value of Saraswathi Arul Nagar is Rs 165 per sq.ft, effective from 1 July 2024. This area is located in Arumanthi village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Saraswathi Arul Nagar has changed

Over the years, the guideline value of Saraswathi Arul Nagar has seen several revisions. The earliest recorded figure is from 2003, where the guideline value was Rs 16 per sq.ft. This increased to Rs 50 per sq.ft in 2007, marking a significant rise of 213%. In 2012, the value changed to Rs 150 per sq.ft, which was a 200% increase from the previous revision. However, it then decreased to Rs 100 per sq.ft in 2017, reflecting a decline of 33%. By 2023, the guideline value rose to Rs 150 per sq.ft, and the latest revision in 2024 has set it at Rs 165 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 931%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Arumanthi

In Arumanthi village, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,100 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Saraswathi Arul Nagar is below this median.

• Sri Bhavani Amman Garden: Rs 330 per sq.ft (2024)
• Sri Krishna Nagar: Rs 330 per sq.ft (2024)
• Sri Ram Nagar: Rs 165 per sq.ft (2024)
• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)
• Sri Sankara Bala Subramaniya 400' Highway City: Rs 220 per sq.ft (2024)
• Sri Vadivambigai Ring Road Garden: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Arul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty at 7% would amount to Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total cost for these fees to Rs 14,850. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Arul Nagar?

The Sub Registrar Office that covers Saraswathi Arul Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumanthi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Arul Nagar?

The current guideline value of Saraswathi Arul Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16 per sq.ft in 2003 to Rs 165 per sq.ft in 2024, reflecting an overall increase of 931% over the years.

What is the land classification for Saraswathi Arul Nagar?

Saraswathi Arul Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Saraswathi Arul Nagar?

The Sub Registrar Office for Saraswathi Arul Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Saraswathi Arul Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,65,000, the stamp duty would be Rs 11,550 at 7%.