Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This locality is situated in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I 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 2012 revision set the value at Rs 2,700 per sq.ft, which then decreased to Rs 1,809 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023, and further rose to Rs 2,970 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Saraswathi Nagar's 2024 figure above that median.

• Saranga Avenue: Rs 2,310 per sq.ft (2024)
• Santhosh Nagar: Rs 1,650 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 per sq.ft (2024)
• Sardar Adikesavalu Nagar: Rs 1,650 per sq.ft (2024)
• Sarojini Street: Rs 2,310 per sq.ft (2024)
• Sankaralaya Apartments: Rs 2,640 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 2,970 per sq.ft, the guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungalathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value ensures that the transaction is conducted at a price that reflects the official valuation set by the government. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification of Saraswathi Nagar?

Saraswathi Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 2,67,300.

Where is the Sub Registrar Office for Saraswathi Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.