Guideline Value for Saraswathi Nagar 2nd Street

Saraswathi Nagar 2nd Street guideline value

The current guideline value of Saraswathi Nagar 2nd 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 2nd Street has changed

The guideline value for Saraswathi Nagar 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,750 per sq.ft, which is an increase of 7% from the 2023 revision of Rs 3,500 per sq.ft. Prior to that, the 2017 revision was Rs 2,345 per sq.ft, showing a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%.

The register has no figures for the years 2007, 2003, and 2002 for this street. Therefore, the earliest recorded figure is from 2012 at Rs 3,500 per sq.ft.

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 guideline value for these streets is Rs 2,150 per sq.ft, placing Saraswathi Nagar 2nd Street's 2024 figure above this median.

• Saraswathi Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,750 per sq.ft, the 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 to Rs 3,37,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Nagar 2nd Street?

The Saraswathi Nagar 2nd Street falls under 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. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Rajakilpakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

Buyers and sellers should be aware that the guideline value is updated periodically, reflecting changes in the real estate market. This value is essential for both parties to understand, as it impacts the overall cost of the transaction and the legal obligations involved.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 2nd Street?

The current guideline value of Saraswathi Nagar 2nd 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 2023 to Rs 3,750 per sq.ft in 2024, an increase of 7%. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification for Saraswathi Nagar 2nd Street?

Saraswathi Nagar 2nd Street is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Saraswathi Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.