Guideline Value for Saraswathi Nagar Annexe

Saraswathi Nagar Annexe guideline value

The current guideline value of Saraswathi Nagar Annexe is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saraswathi Nagar Annexe has changed

The guideline value for Saraswathi Nagar Annexe has seen several revisions over the years. The earliest recorded value in 2002 was Rs 81 per sq.ft. This figure increased significantly by 2003 to Rs 380 per sq.ft, marking a change of +369%. By 2007, the value rose to Rs 1,000 per sq.ft, reflecting a change of +163%. The next revision in 2012 saw a decrease to Rs 2,500 per sq.ft, a drop of -33%. However, the value bounced back in 2017 to Rs 1,675 per sq.ft, which was a +49% increase from the previous revision. The most recent revisions occurred in 2023 and 2024, with the value moving from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, an increase of +12%.

Overall, from 2002 to 2024, the guideline value has increased by +3,357%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, placing the guideline value of Saraswathi Nagar Annexe above this median.

• Saraswathi Nagar ECC School Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 1st Street Pirathana Salai: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 2nd Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 3rd Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 4th Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Nagar Annexe?

The Sub Registrar Office that covers Saraswathi Nagar Annexe is 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 further assistance.

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

The guideline value is a crucial factor when registering a property in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. This value is utilized to calculate the stamp duty and registration fees that are applicable during the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately in the official registers. It helps maintain transparency in property dealings and ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Annexe?

The current guideline value of Saraswathi Nagar Annexe is Rs 2,800 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 81 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +3,357%.

What are the stamp duty rates for properties in Saraswathi Nagar Annexe?

The stamp duty for properties in Saraswathi Nagar Annexe is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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

What are the other streets in Neelankarai with the same guideline value?

Other streets in Neelankarai with a guideline value of Rs 2,800 per sq.ft include Saraswathi Nagar ECC School Street, Saraswathi Nagar North 1st Street Pirathana Salai, Saraswathi Nagar North 2nd Street, Saraswathi Nagar North 3rd Street, Saraswathi Nagar North 4th Street, and Saraswathi Nagar North 5th Street.