Guideline Value for Saravana Nagar 1st Street

Saravana Nagar 1st Street guideline value

The current guideline value of Saravana Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value for Saravana Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in the 2023 revision, and finally, it reached Rs 2,700 per sq.ft in the 2024 revision. The changes between these revisions were significant, with a +49% increase from 2017 to 2023, followed by an +8% increase from 2023 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of -33%, but from 2012 to 2024, the overall change is +8%. This indicates fluctuations in the guideline value over the years, reflecting the adjustments made by the Registration Department.

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 in this area is Rs 2,150 per sq.ft, placing Saravana Nagar 1st Street's 2024 figure above that median.

• Saravana Nagar 1st Cross Street: 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: 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 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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar 1st Street?

The Sub Registrar Office that covers Saravana Nagar 1st 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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Rajakilpakkam, the guideline value serves as a reference for determining the stamp duty and registration fees. The guideline value is used to calculate the applicable fees, which are mandatory during the registration process.

It is crucial for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations associated with property transactions. Ensuring compliance with these values is essential to avoid any legal issues during the registration process.

Frequently asked questions

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

The current guideline value of Saravana Nagar 1st 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 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Saravana Nagar 1st Street?

For a 1,000 sq.ft property, the total guideline value is Rs 27,00,000. The stamp duty at 7% is Rs 1,89,000, and the registration fee at 2% is Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Saravana Nagar 1st Street?

The Selaiyur Sub Registrar Office covers Saravana Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Saravana Nagar 1st Street?

The land classification for Saravana Nagar 1st Street is Residential Special Type - I, indicating its designated use within the locality.