Guideline Value for Saraswathimuthupalaniyappa Nagar

Saraswathimuthupalaniyappa Nagar guideline value

The current guideline value of Saraswathimuthupalaniyappa Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saraswathimuthupalaniyappa Nagar has changed

The guideline value for Saraswathimuthupalaniyappa Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 195 per sq.ft, which increased to Rs 221 per sq.ft in 2003, marking a 13% rise. The value then rose dramatically to Rs 845 per sq.ft in 2007, reflecting a 282% increase. Following this, the guideline value reached Rs 1,206 per sq.ft in 2017, which was a 43% increase from the previous revision.

In the 2023 revision, the guideline value was set at Rs 1,800 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 has established the current guideline value at Rs 1,980 per sq.ft, which is a 10% increase from 2023. Notably, there was no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing the guideline value of Saraswathimuthupalaniyappa Nagar below this median.

• Sargunam Street: Rs 1,980 per sq.ft (2024)
• Sargunar Salai, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Sastha Nagar: Rs 1,760 per sq.ft (2024)
• Sastri Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Satesab Lane -Kalayanipuram: Rs 1,760 per sq.ft (2024)
• Sankaranarayanan Street /VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathimuthupalaniyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathimuthupalaniyappa Nagar?

The Saraswathimuthupalaniyappa Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When registering a property, it is crucial to ensure that the guideline value is correctly reflected in the documentation. This helps in avoiding any discrepancies that could lead to legal issues or additional costs during the registration process.

Frequently asked questions

What is the current guideline value of Saraswathimuthupalaniyappa Nagar?

The current guideline value of Saraswathimuthupalaniyappa Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 195 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 915% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Saraswathimuthupalaniyappa Nagar?

The Pammal Sub Registrar Office handles property registrations in Saraswathimuthupalaniyappa Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Saraswathimuthupalaniyappa Nagar's value being below this median at Rs 1,980 per sq.ft.