Guideline Value for Saraswathy Nagar

Saraswathy Nagar guideline value

The current guideline value of Saraswathy Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Saraswathy Nagar has changed

Over the years, the guideline value of Saraswathy Nagar has seen significant changes. The 2007 revision set the value at Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 329%. However, this was followed by a decrease of 33% to Rs 2,010 per sq.ft in 2017. The value then surged to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

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, with a median value of Rs 2,970 per sq.ft. The guideline value of Saraswathy Nagar is above this median.

• Saraswathi Vidyalaya School Street: Rs 1,650 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 Saraswathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Saraswathy Nagar?

The Sub Registrar Office that covers Saraswathy Nagar 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 critical factor during the registration of property transactions in Hastinapuram. It serves as the base value for calculating stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to determine the official value of the property, which impacts the total costs involved in the registration process. Buyers and sellers must be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Saraswathy Nagar?

The current guideline value of Saraswathy Nagar is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Saraswathi Vidyalaya School Street at Rs 1,650 per sq.ft, Saraswathi Nagar Extension at Rs 3,300 per sq.ft, and several others with varying rates.

What is the registration fee for property in Saraswathy Nagar?

The registration fee for property in Saraswathy Nagar is calculated based on the guideline value, which is Rs 3,300 per sq.ft for 2024. For a 1,000 sq.ft plot, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Saraswathy Nagar?

The Sub Registrar Office for Saraswathy Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details online.