Guideline Value for Saraswathi Avenue

Saraswathi Avenue guideline value

The current guideline value of Saraswathi Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Adhanoor village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Saraswathi Avenue has changed

The guideline value for Saraswathi Avenue has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. Following this, the value remained stable at Rs 1,000 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The changes between the revisions include a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is the same as the current value for Saraswathi Avenue. Below are other streets in Adhanoor with their respective guideline values:

• Sathyapriya Avenue: Rs 1,000 per sq.ft (2024)
• Sathyapriya Nagar Part-I,II,III: Rs 1,000 per sq.ft (2024)
• Sathya Sai Nagar: Rs 1,000 per sq.ft (2024)
• Sakthi Nagar: Rs 1,000 per sq.ft (2024)
• Sakthi Garden: Rs 1,000 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total fees together Rs 90,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Saraswathi Avenue?

The Sub Registrar Office covering Saraswathi Avenue 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 more details.

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

The guideline value plays a crucial role during the registration of property transactions in Adhanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can impact the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Saraswathi Avenue?

The current guideline value of Saraswathi Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with notable changes including a 400% increase from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017. It has remained stable at Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification for Saraswathi Avenue?

Saraswathi Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Saraswathi Avenue?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000.