Guideline Value for Saraswathi Colony Pallikuda Street

Saraswathi Colony Pallikuda Street guideline value

The current guideline value of Saraswathi Colony Pallikuda Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Saraswathi Colony Pallikuda Street has changed

Over the years, the guideline value of Saraswathi Colony Pallikuda Street has seen several revisions. Starting from the 2002 revision, the guideline value was Rs 85 per sq.ft. This increased to Rs 94 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 350 per sq.ft in 2007, reflecting a substantial increase of 272%. Following this, the 2012 revision saw the guideline value at Rs 2,250 per sq.ft, which was a remarkable increase of 543% from the previous revision. However, the 2017 revision saw a decrease to Rs 1,507 per sq.ft, which represented a decline of 33%. The recent revisions show an increase to Rs 2,250 per sq.ft in 2023, and now to Rs 2,500 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,841%. The register has no figures for the years not listed, ensuring that the changes are accurately reflected in the revisions provided.

Guideline values in Nerkundram

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

• Saraswathi Colony 1st Street: Rs 2,500 per sq.ft (2024)
• Saraswathi Colony 2nd Street: Rs 2,500 per sq.ft (2024)
• Saraswathi Colony 3rd 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 Pallikuda Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Colony Pallikuda Street?

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

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are conducted at a fair value.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. It is important to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Saraswathi Colony Pallikuda Street?

The current guideline value of Saraswathi Colony Pallikuda 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 2,841% over these years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot at the current rate, the total fees would be Rs 2,25,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Saraswathi Colony Pallikuda Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Saraswathi Colony Pallikuda Street?

The land classification for Saraswathi Colony Pallikuda Street is Residential Class III Type - II, indicating its designation for residential use.