Guideline Value for Saravana Nagar 2nd Street

Saravana Nagar 2nd Street guideline value

The current guideline value of Saravana Nagar 2nd 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 2nd Street has changed

Over the years, the guideline value of Saravana Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, the value increased to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,700 per sq.ft from the 2024 revision, effective from 1 July 2024.

The changes between revisions show a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, placing Saravana Nagar 2nd Street's 2024 figure above this median.

• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value totals 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar 2nd Street?

The Sub Registrar Office that covers Saravana Nagar 2nd 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 more details.

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

The guideline value is essential when registering property transactions in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in determining the fair value of the property, ensuring transparency in transactions.

Frequently asked questions

What is the current guideline value of Saravana Nagar 2nd Street?

The current guideline value of Saravana Nagar 2nd 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 back to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

What is the land classification for Saravana Nagar 2nd Street?

Saravana Nagar 2nd Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Saravana Nagar 2nd Street?

The Sub Registrar Office for Saravana Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Saravana Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty would be Rs 1,89,000 at the rate of 7%.