Guideline Value for Saraswathi Nagar

Saraswathi Nagar guideline value

The current guideline value of Saraswathi Nagar, located in Aathur village under the Redhills SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Saraswathi Nagar has changed

Over the years, the guideline value for Saraswathi Nagar has seen several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 117 per sq.ft. This was followed by a significant increase to Rs 12 per sq.ft in 2003, marking a decrease of 90%. In 2007, the value rose to Rs 100 per sq.ft, a 733% increase. The 2012 revision saw the value at Rs 200 per sq.ft, reflecting a 100% increase from the previous figure. In 2017, the value dropped to Rs 134 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 200 per sq.ft in 2023, and currently stands at Rs 220 per sq.ft for 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 88%. It is important to note that there are no figures available for the revisions in years other than those listed.

Guideline values in Aathur

Aathur village has 11 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,000 per sq.ft. The median value is Rs 220 per sq.ft, placing Saraswathi Nagar at this median value. The following are the guideline values for other streets in Aathur:

• Sakthi Nagar: Rs 165 per sq.ft (2024)
• Rajesh Nagar: Rs 165 per sq.ft (2024)
• Poorani Avenue Annex: Rs 220 per sq.ft (2024)
• Thanthai Periyar Street: Rs 220 per sq.ft (2024)
• VGP Jai Nagar: Rs 220 per sq.ft (2024)
• Metro Star City: Rs 200 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Nagar?

The Sub Registrar Office covering Saraswathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further information.

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

The guideline value is an essential factor in property transactions in Aathur, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

It is crucial for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs involved in the property transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar?

The current guideline value of Saraswathi Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent increase of 10% from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 88%.

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

For a property valued at Rs 2,20,000, the stamp duty is Rs 15,400, and the registration fee is Rs 4,400, totaling Rs 19,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Saraswathi Nagar?

The Redhills Sub Registrar Office handles registrations for Saraswathi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Saraswathi Nagar?

Saraswathi Nagar falls under the Residential Class I Type - I land classification, which is important for understanding the zoning and permitted uses of the property.