Guideline Value for Saraswathi Nagar North 3rd Street

Saraswathi Nagar North 3rd Street guideline value

The current guideline value of Saraswathi Nagar North 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street 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 North 3rd Street has changed

The guideline value for Saraswathi Nagar North 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2012, with a guideline value of Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, between 2012 and 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Saraswathi Nagar North 3rd Street above this median.

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

Stamp duty and registration fee for property in Saraswathi Nagar North 3rd Street

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, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar North 3rd Street?

The Sub Registrar Office that covers Saraswathi Nagar North 3rd Street 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 more details.

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

The guideline value is a crucial factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar North 3rd Street?

The current guideline value of Saraswathi Nagar North 3rd Street 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Saraswathi Nagar North 3rd Street?

Saraswathi Nagar North 3rd Street is classified as Residential Class II Type - II.

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

The Sub Registrar Office covering Saraswathi Nagar North 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Saraswathi Nagar North 3rd Street is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.