Guideline Value for Saravana Nagar 3rd Street

Saravana Nagar 3rd Street guideline value

The current guideline value of Saravana Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. 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 3rd Street has changed

The guideline value for Saravana Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then 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 to Rs 2,700 per sq.ft in the 2024 revision, reflecting an overall increase of 8% from 2012 to 2024.

From 2023 to 2024, there was an increase of 8%, while the jump from 2017 to 2023 marked a significant rise of 49%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, placing Saravana Nagar 3rd Street's 2024 figure above this median.

• Saravana Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 3rd 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, calculated at 7%, would be Rs 1,89,000, while 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.

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

Which Sub Registrar Office covers Saravana Nagar 3rd Street?

The Saravana Nagar 3rd Street falls under 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. To locate your SRO, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees that buyers need to pay, ensuring that transactions are conducted at a legally recognized value.

When buying or selling property, it is important to refer to the current guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Saravana Nagar 3rd Street?

The current guideline value of Saravana Nagar 3rd 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Saravana Nagar 3rd Street?

Saravana Nagar 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office 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 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.