Guideline Value for Saraswathi Avenue

Saraswathi Avenue guideline value

The current guideline value of Saraswathi Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is 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. The 2007 revision recorded a value of Rs 328 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 357% increase. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value remained the same at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 357%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village features a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value among these streets is Rs 1,500 per sq.ft, which aligns with the current guideline value of Saraswathi Avenue.

• Sarojini Nagar: Rs 1,000 per sq.ft (2024)
• Sathya Sai Nagar: Rs 1,200 per sq.ft (2024)
• School Street: Rs 1,200 per sq.ft (2024)
• Sakthi Nagar Extn: Rs 1,500 per sq.ft (2024)
• Sakthi Nagar: Rs 1,500 per sq.ft (2024)
• Selvaraj 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Saraswathi Avenue?

The Saraswathi Avenue falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Nandhivaram. It serves as a benchmark to determine the minimum value for property registration, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Saraswathi Avenue?

The current guideline value of Saraswathi Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. It then decreased to Rs 1,005 per sq.ft in 2017, remained at Rs 1,500 per sq.ft in 2023, and continued at the same rate in 2024.

What is the land classification for Saraswathi Avenue?

The land classification for Saraswathi Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Saraswathi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,500 per sq.ft, the stamp duty would amount to Rs 1,05,000.