Guideline Value for Saraswathi Vidyalaya School Street

Saraswathi Vidyalaya School Street guideline value

The current guideline value of Saraswathi Vidyalaya School Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Saraswathi Vidyalaya School Street has changed

Over the years, the guideline value for Saraswathi Vidyalaya School Street has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 400 per sq.ft. This value increased dramatically to Rs 1,500 per sq.ft in the 2012 revision, marking a 275% rise. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, representing a 33% drop. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Saraswathi Vidyalaya School Street's 2024 figure below that median.

• Saraswathy Nagar: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)
• Sathiyavani Muthu Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Vidyalaya School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Vidyalaya School Street?

The Sub Registrar Office that covers Saraswathi Vidyalaya School Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to assess the applicable charges. This ensures that the registration process aligns with the current market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Saraswathi Vidyalaya School Street?

The current guideline value of Saraswathi Vidyalaya School Street is Rs 1,650 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 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024. Notably, there was a 275% increase from 2007 to 2012, followed by a decrease in 2017, and a subsequent increase in 2023 and 2024.

What is the registration office for Saraswathi Vidyalaya School Street?

The registration office for Saraswathi Vidyalaya School Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the land classification for Saraswathi Vidyalaya School Street?

Saraswathi Vidyalaya School Street is classified as Residential Class III Type - I, which indicates its designation for residential use within the area.