Guideline Value for Saraswathi Colony 3rd Street

Saraswathi Colony 3rd Street guideline value

The current guideline value of Saraswathi Colony 3rd Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Saraswathi Colony 3rd Street has changed

The guideline value for Saraswathi Colony 3rd Street has undergone several revisions over the years. The earliest recorded figure was Rs 85 per sq.ft in 2002, which increased to Rs 94 per sq.ft in 2003, reflecting a change of +11%. The value then saw a significant rise to Rs 350 per sq.ft in 2007, marking an increase of +272%. Following this, the value surged to Rs 2,250 per sq.ft in 2012, a remarkable increase of +543%. However, it decreased to Rs 1,507 per sq.ft in 2017, showing a decline of -33%. The value then rose to Rs 2,250 per sq.ft in 2023, representing an increase of +49%. Finally, the current revision in 2024 set the guideline value at Rs 2,500 per sq.ft, an increase of +11% from the previous year.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +2841%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Saraswathi Colony 3rd Street above this median.

• Saraswathi Colony 2nd Street: Rs 2,500 per sq.ft (2024)
• Saraswathi Colony Pallikuda Street: Rs 2,500 per sq.ft (2024)
• Saraswathi Colony 1st Street: Rs 2,500 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,500 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 2,500 per sq.ft (2024)
• Samuel Colony: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Colony 3rd Street?

The Saraswathi Colony 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to consult the guideline value to ensure compliance with the legal requirements. This ensures that all transactions are recorded accurately and that the appropriate fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Saraswathi Colony 3rd Street?

The current guideline value of Saraswathi Colony 3rd Street is Rs 2,500 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 85 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of +2841% over this period.

What is the registration office for Saraswathi Colony 3rd Street?

The registration office for Saraswathi Colony 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where can I find more information on guideline values in Nerkundram?

More information on guideline values in Nerkundram can be found in the guideline value register maintained by the Registration Department, which lists values for all streets in the area.