Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sirukalathur village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Saraswathi Nagar has changed

The guideline value of Saraswathi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 200 per sq.ft. This value increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 335 per sq.ft in 2017, which represents a 33% drop. Following this, the value surged to Rs 500 per sq.ft in 2023, and then further increased by 10% to the current value of Rs 550 per sq.ft in 2024.

Between the revisions, the changes are notable. From 2017 to 2023, there was a 49% increase, while the overall change from 2007 to 2024 is a substantial 175%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sirukalathur

Saraswathi Nagar's 2024 guideline value of Rs 550 per sq.ft is equal to the median value of Rs 550 per sq.ft for the 32 streets in Sirukalathur under the Kunrathur SRO, which range from Rs 450 to Rs 2,970 per sq.ft.

• Sammandham Nagar: Rs 1,000 per sq.ft (2024)
• Shanthi Nagar Extn I & II: Rs 550 per sq.ft (2024)
• Smart City: Rs 650 per sq.ft (2024)
• Sri Badmavathi Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ranganathan Avenue: Rs 550 per sq.ft (2024)
• Sri Ranganathan Nagar: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Nagar?

The Saraswathi Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sirukalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Saraswathi Nagar?

The land classification for Saraswathi Nagar is Residential Class I Type - I.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registration for Saraswathi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Saraswathi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.