Guideline Value for Saraswathi Nagar Souh 2nd Street

Saraswathi Nagar Souh 2nd Street guideline value

The current guideline value of Saraswathi Nagar Souh 2nd 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 2nd Street has changed

Over the years, the guideline value of Saraswathi Nagar Souh 2nd Street has seen several revisions. 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 most recently, it has risen to Rs 2,800 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 12%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 12%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values 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, placing the Saraswathi Nagar Souh 2nd Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Saraswathi Nagar Souh 2nd 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 fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar Souh 2nd Street?

The Saraswathi Nagar Souh 2nd 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 details.

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 minimum value at which properties can be registered, ensuring that the transaction reflects a fair value in accordance with local regulations.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are documented accurately and transparently, in line with the established guidelines.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Souh 2nd Street?

The current guideline value of Saraswathi Nagar Souh 2nd 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 this street?

Saraswathi Nagar Souh 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,52,000.