Guideline Value for Saraswathi Nagar 1st Street

Saraswathi Nagar 1st Street guideline value

The current guideline value of Saraswathi Nagar 1st Street is Rs 3,750 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Saraswathi Nagar 1st Street has changed

The guideline value for Saraswathi Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,345 per sq.ft. Following this, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, and then to Rs 3,750 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing the guideline value of Saraswathi Nagar 1st Street above this median.

• Saraswathi Nagar 2nd Street: Rs 3,750 per sq.ft (2024)
• Saraswathi Nagar: Rs 3,750 per sq.ft (2024)
• Saravana Nagar: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,750 per sq.ft, the total guideline value amounts to Rs 37,50,000. The stamp duty at 7% would be Rs 2,62,500, and the registration fee at 2% would be Rs 75,000, bringing the total charges to Rs 3,37,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Nagar 1st Street?

The Sub Registrar Office that covers Saraswathi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Rajakilpakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial obligations during the registration process. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 1st Street?

The current guideline value of Saraswathi Nagar 1st Street is Rs 3,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,750 per sq.ft in 2024.

What is the land classification for Saraswathi Nagar 1st Street?

Saraswathi Nagar 1st Street is classified as Commercial Class I Type - I.

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

For a property valued at Rs 37,50,000, the stamp duty would be Rs 2,62,500 and the registration fee would be Rs 75,000, totaling Rs 3,37,500.

Which office handles the registration for Saraswathi Nagar 1st Street?

The Selaiyur Sub Registrar Office handles the registration for Saraswathi Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.