Guideline Value for Saraswathi Nagar Souh 1st Street

Saraswathi Nagar Souh 1st Street guideline value

The current guideline value of Saraswathi Nagar Souh 1st 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 Souh 1st Street has changed

The guideline value for Saraswathi Nagar Souh 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision and then rose to Rs 2,800 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 is an increase of 12%, reflecting the current value of Rs 2,800 per sq.ft.

Guideline values in Neelankarai

In Neelankarai village, 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 guideline value in this area is Rs 2,200 per sq.ft, making the guideline value of Saraswathi Nagar Souh 1st Street above the median.

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

Stamp duty and registration fee for property in Saraswathi Nagar Souh 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Saraswathi Nagar Souh 1st Street?

The Sub Registrar Office that covers Saraswathi Nagar Souh 1st 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 information.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that must be paid during the process. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the area.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Souh 1st Street?

The current guideline value of Saraswathi Nagar Souh 1st 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 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 a property in this area?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration of properties in Saraswathi Nagar Souh 1st Street?

The Neelankarai Sub Registrar Office handles the registration of properties in Saraswathi Nagar Souh 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Saraswathi Nagar Souh 1st Street?

Saraswathi Nagar Souh 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.