Guideline Value for Saraswathi Ramakrishnan Street

Saraswathi Ramakrishnan Street guideline value

The current guideline value of Saraswathi Ramakrishnan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam Sub Registrar Office, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Saraswathi Ramakrishnan Street has changed

The guideline value for Saraswathi Ramakrishnan Street has seen several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. However, the most recent revision in 2024 has increased the guideline value to Rs 4,400 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no registered figures for the years 2002, 2003, 2007, and 2023 for this street. The changes reflect a notable fluctuation in the guideline values, particularly the sharp rise from 2017 to 2024.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft as of 2024. The median guideline value in the village is Rs 3,850 per sq.ft, which means that the current value of Rs 4,400 per sq.ft for Saraswathi Ramakrishnan Street is above this median.

• Sastha Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• S.B.I.Colony First Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Main Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Ramakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Saraswathi Ramakrishnan Street?

The Saraswathi Ramakrishnan Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used as a benchmark for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements when transferring property ownership.

When a property is sold, the guideline value is considered to determine the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saraswathi Ramakrishnan Street?

The current guideline value of Saraswathi Ramakrishnan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,400 per sq.ft in 2024.

What are the other guideline values in Valasaravakkam?

In Valasaravakkam, the guideline values range from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. Saraswathi Ramakrishnan Street's value is above this median.

What fees are associated with buying property on this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,96,000.

Which office handles registrations for Saraswathi Ramakrishnan Street?

The Virugambakkam Sub Registrar Office handles registrations for Saraswathi Ramakrishnan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.