Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Allappakkam village under the Chengleput Joint I SRO and is classified as Residential Special Type - III.

How the guideline value of Saraswathi Nagar has changed

Over the years, the guideline value for Saraswathi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 1,100 per sq.ft. However, in the 2024 revision, the value increased slightly to Rs 1,102 per sq.ft, reflecting a change of +0% from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Looking back further, the 2017 revision marked a significant increase to Rs 737 per sq.ft, which was a +49% change from the 2012 figure of Rs 1,100 per sq.ft. Notably, the 2012 to 2017 period saw a decrease of -33%. Overall, comparing the 2012 revision to the 2024 revision, there has been no change, maintaining the guideline value at Rs 1,102 per sq.ft.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 600 to Rs 2,000 per sq.ft. The median value is Rs 1,102 per sq.ft, which is equal to the current guideline value for Saraswathi Nagar.

• Sawdambiga Nagar: Rs 902 per sq.ft (2024)
• Samraja Nagar: Rs 902 per sq.ft (2024)
• Sakthi Nagar Ext: Rs 1,200 per sq.ft (2024)
• Sakthi Nagar: Rs 1,200 per sq.ft (2024)
• Sai Nagar: Rs 1,102 per sq.ft (2024)
• Sai Kiruba Nagar: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040, leading to a combined cost of Rs 99,180. 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?

The Sub Registrar Office that covers Saraswathi Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions within Allappakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for the transaction. The fees are calculated based on this value, ensuring that both parties are informed of the costs involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,100 per sq.ft from 2012 to 2023 and increased to Rs 1,102 per sq.ft in 2024. There was a significant increase of +49% from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023.

What is the land classification for Saraswathi Nagar?

Saraswathi Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Saraswathi Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 11,02,000, the total fees would amount to Rs 99,180.

Where is the Chengleput Joint I SRO located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Saraswathi Nagar.