Guideline Value for Saraswathi Street

Saraswathi Street guideline value

The current guideline value of Saraswathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Saraswathi Street has changed

The guideline value for Saraswathi Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 268 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a significant rise of 143%. By 2007, the value jumped to Rs 900 per sq.ft, reflecting a 38% increase. The 2012 revision saw the value rise to Rs 3,500 per sq.ft, an impressive 289% increase. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision brought the guideline value back up to Rs 3,500 per sq.ft, and the latest 2024 revision set it at Rs 3,900 per sq.ft, an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 1355%. There are no figures available for the revisions in years other than those listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which matches the 2024 figure for Saraswathi Street.

• Saraswathi Nagar: Rs 3,900 per sq.ft (2024)
• Santhi Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main 2nd Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Main 1st Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar Ist main road: Rs 5,000 per sq.ft (2024)
• Santhi Nagar First Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, these fees would total Rs 3,51,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Saraswathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that are applicable to the transaction. Buyers and sellers must take this value into account to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the transaction is accurately reflected in the official records.

Frequently asked questions

What is the current guideline value of Saraswathi Street?

The current guideline value of Saraswathi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1355% over the years.

What is the land classification of Saraswathi Street?

Saraswathi Street is classified as Residential Class I Type - III, which indicates its zoning for residential purposes.

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

The Sub Registrar Office for Saraswathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties on Saraswathi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%, plus a registration fee of Rs 78,000 at 2%, totaling Rs 3,51,000.