Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Athur B Block village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Saraswathi Nagar has changed

The guideline value for Saraswathi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 90 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking an increase of 456%. However, the value then decreased to Rs 335 per sq.ft in 2017, a reduction of 33%. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 456%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Athur B Block

Athur B Block consists of 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft, and the median being Rs 700 per sq.ft. The guideline value for Saraswathi Nagar is below this median.

• Santhosh Nagar: Rs 500 per sq.ft (2024)
• Seshathri Nagar: Rs 700 per sq.ft (2024)
• R R Nagar: Rs 1,000 per sq.ft (2024)
• Shirdi Avenue: Rs 1,000 per sq.ft (2024)
• Shree Sakthi Garden: Rs 800 per sq.ft (2024)
• Rathinam Nagar: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Nagar?

The Sub Registrar Office that covers Saraswathi Nagar is the Chengleput Joint II 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 Athur B Block

The guideline value is a crucial factor during the registration process of property transactions in Athur B Block. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the fees are calculated fairly based on the defined rates for each street. This process aids in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Athur B Block?

The median guideline value in Athur B Block is Rs 700 per sq.ft, with Saraswathi Nagar's value being below this median.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000.

Where is the Sub Registrar Office for Saraswathi Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.