Guideline Value for Saravana Nagar 1st Cross Street

Saravana Nagar 1st Cross Street guideline value

The current guideline value of Saravana Nagar 1st Cross Street is Rs 2,700 per sq.ft. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Saravana Nagar 1st Cross Street has changed

The guideline value for Saravana Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which means that the 2024 figure for Saravana Nagar 1st Cross Street is above this median.

• Saravana Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Saravana Nagar 1st Cross Street?

The Sub Registrar Office that covers Saravana Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should be aware of the current guideline value to estimate these costs accurately.

Frequently asked questions

What is the current guideline value of Saravana Nagar 1st Cross Street?

The current guideline value of Saravana Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification of Saravana Nagar 1st Cross Street?

Saravana Nagar 1st Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the registration fees for property in Saravana Nagar 1st Cross Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%, and the registration fee would be Rs 54,000 at 2%, totaling Rs 2,43,000. Fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Saravana Nagar 1st Cross Street?

The Sub Registrar Office for Saravana Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.