Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village and falls under the Alandur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Saraswathi Nagar has changed

The guideline value of Saraswathi Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 268 per sq.ft. It increased to Rs 650 per sq.ft in 2003, followed by a rise to Rs 900 per sq.ft in 2007. The value then saw a significant jump to Rs 3,500 per sq.ft in 2012, but decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,900 per sq.ft.

Between the revisions, notable changes include an increase of 143% from 2002 to 2003, a 38% increase from 2003 to 2007, and a remarkable 289% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The change from 2023 to 2024 is an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 1355%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which matches the guideline value for Saraswathi Nagar.

• Saraswathi Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main 2nd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main 1st Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Ist main road: Rs 5,000 per sq.ft (2024)
• Santhi Nagar First Cross Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 268 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1355% over this period.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Saraswathi Nagar?

The Alandur Sub Registrar Office handles property registrations for Saraswathi Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Saraswathi Nagar?

The land classification for Saraswathi Nagar is Residential Class I Type - III, indicating its designated use for residential purposes.