Guideline Value for Saraswathipuram Extn 2nd Street

Saraswathipuram Extn 2nd Street guideline value

The current guideline value of Saraswathipuram Extn 2nd Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Saraswathipuram Extn 2nd Street has changed

Since the 2017 revision, the guideline value for Saraswathipuram Extn 2nd Street has seen significant increases. The 2017 revision set the value at Rs 1,742 per sq.ft, which rose to Rs 2,600 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has further increased the value to Rs 2,860 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which means that the 2024 guideline value of Saraswathipuram Extn 2nd Street is above this median.

• Saraswathipuram Extn 1st Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn.: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 3rd Main Road: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 2nd Main Road: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (West): Rs 2,860 per sq.ft (2024)
• Saraswathipuram 1st Street (East): Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathipuram Extn 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost for these fees to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathipuram Extn 2nd Street?

The Saraswathipuram Extn 2nd Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall transaction costs. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value for Saraswathipuram Extn 2nd Street?

The current guideline value for Saraswathipuram Extn 2nd Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024, representing an overall increase of 64% over this period.

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

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Which office handles the registration of properties in Saraswathipuram Extn 2nd Street?

The Pammal Sub Registrar Office is responsible for handling property registrations in Saraswathipuram Extn 2nd Street, located in Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it establishes the minimum value for property registration and is used to calculate stamp duty and registration fees. This ensures that property transactions are conducted fairly and transparently.