Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar in Puthagaram village, under the Ambattur SRO, is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Saraswathi Nagar has changed

The guideline value for Saraswathi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,500 per sq.ft, which is an increase from Rs 3,200 per sq.ft in 2023, marking a change of +9%. Prior to this, the 2017 revision recorded a value of Rs 2,144 per sq.ft, indicating a substantial increase of +49% from 2017 to 2023. The 2012 revision also had a value of Rs 3,200 per sq.ft, which was a decrease of -33% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +9%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, making the 2024 figure for Saraswathi Nagar above this median.

• Saraswathi Nagar Annexe & Ext: Rs 3,500 per sq.ft (2024)
• Santhosh Nagar Extn: Rs 2,200 per sq.ft (2024)
• Santhosh Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sathyamoorthy Nagar: Rs 1,600 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 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total registration costs to Rs 3,15,000. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Puthagaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value helps determine the minimum price at which a property can be registered. This ensures that the property is not undervalued, protecting both the buyer and the seller in the transaction.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012.

What is the land classification for Saraswathi Nagar?

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

Where can I find the Sub Registrar Office for Saraswathi Nagar?

The Sub Registrar Office for Saraswathi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Saraswathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a plot valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 at a rate of 7%.