Guideline Value for Saraswathi Nagar North 4th Street

Saraswathi Nagar North 4th Street guideline value

The current guideline value of Saraswathi Nagar North 4th 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 it is classified as Residential Class II Type - II.

How the guideline value of Saraswathi Nagar North 4th Street has changed

Starting from the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a reduction of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by a rise to Rs 2,800 per sq.ft in the 2024 revision, representing a 12% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

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 for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Saraswathi Nagar North 4th Street is above the median.

• Saraswathi Nagar North 3rd Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 5th Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 2nd Street: Rs 2,800 per sq.ft (2024)
• Saraswathi Nagar North 1st Street Pirathana Salai: 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 4th 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, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar North 4th Street?

The Saraswathi Nagar North 4th Street falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. 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 registration fees are appropriately calculated, based on the higher value between the guideline value and the actual sale price. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar North 4th Street?

The current guideline value of Saraswathi Nagar North 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 2,500 per sq.ft to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total stamp duty and registration fee would be Rs 2,52,000.

Which Sub Registrar Office is responsible for this street?

The Neelankarai Sub Registrar Office is responsible for Saraswathi Nagar North 4th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Saraswathi Nagar North 4th Street?

Saraswathi Nagar North 4th Street is classified as Residential Class II Type - II, indicating its suitability for residential development.