Guideline Value for Saraswathi Nagar Extension

Saraswathi Nagar Extension guideline value

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

How the guideline value of Saraswathi Nagar Extension has changed

Over the years, the guideline value of Saraswathi Nagar Extension has seen significant changes. Starting from the 2002 revision, the value was Rs 125 per sq.ft. This increased to Rs 138 per sq.ft in 2003, followed by a substantial rise to Rs 350 per sq.ft in 2007. The 2012 revision saw the value at Rs 2,250 per sq.ft, while in 2017, it decreased to Rs 1,507 per sq.ft. The value then increased to Rs 2,250 per sq.ft in 2023, and currently stands at Rs 2,500 per sq.ft as of the 2024 revision.

The changes between the revisions indicate a varied trajectory. From 2002 to 2003, the increase was 10%. This was followed by a remarkable 154% rise from 2003 to 2007. However, from 2007 to 2012, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 11%. Overall, from 2002 to 2024, there has been an increase of 1900%.

Guideline values in Nerkundram

Nerkundram has a total of 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 in this village is Rs 2,200 per sq.ft, making the current value of Saraswathi Nagar Extension above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. Note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Nagar Extension?

The Saraswathi Nagar Extension falls under the Virugambakkam Sub Registrar Office. The address is No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. Buyers and sellers must be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Extension?

The current guideline value of Saraswathi Nagar Extension 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 125 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 1900% over the years.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office should I approach for registration?

The Virugambakkam Sub Registrar Office covers Saraswathi Nagar Extension. The office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets in Nerkundram have the same guideline value?

Other streets in Nerkundram, such as Saraswathi Colony Pallikuda Street, Saraswathi Colony 3rd Street, and others, also have a guideline value of Rs 2,500 per sq.ft as of 2024.