Guideline Value for Saraswathi Garden

Saraswathi Garden guideline value

The current guideline value of Saraswathi Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. It is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Saraswathi Garden has changed

The guideline value for Saraswathi Garden has undergone significant changes over the years. In the 2017 revision, the value was set at Rs 1,005 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,700 per sq.ft, marking a change of +69% from the 2017 figure. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

To summarize the revisions, the 2017 guideline value was Rs 1,005 per sq.ft, and the current 2024 revision is Rs 1,700 per sq.ft. This reflects a notable increase, indicating a substantial change in the guideline value over the seven-year period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value for Saraswathi Garden is below this median.

• Sarangapani Street: Rs 2,200 per sq.ft (2024)
• Santhosh Nagar: Rs 3,300 per sq.ft (2024)
• Santhosh Garden, Vijaya Nagar, Sai Illam: Rs 3,300 per sq.ft (2024)
• Santhosh Garden: Rs 3,300 per sq.ft (2024)
• Saravana Nagar: Rs 2,200 per sq.ft (2024)
• Sankamam Layout: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Garden?

The Saraswathi Garden is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction price. This helps in maintaining transparency and consistency in property dealings, as it reflects the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value for Saraswathi Garden?

The current guideline value for Saraswathi Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft, marking a change of +69%.

Are there any years with no guideline value for Saraswathi Garden?

Yes, the register has no figures for Saraswathi Garden for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, while Saraswathi Garden's value is below this median.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.