Guideline Value for Saravana Nagar 4th Street

Saravana Nagar 4th Street guideline value

The current guideline value of Saravana Nagar 4th 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 4th Street has changed

Over the years, the guideline value for Saravana Nagar 4th Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The value then increased to Rs 2,500 per sq.ft in the 2023 revision, and finally, the current value stands at Rs 2,700 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

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, placing Saravana Nagar 4th Street above this median.

• Saravana Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Nagar 4th Street?

The Sub Registrar Office that covers Saravana Nagar 4th 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, within the 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 an essential factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the government’s valuation.

When you proceed with a sale, the guideline value will be used to calculate the stamp duty and registration fees, which are necessary for completing the registration process. This ensures transparency and helps in maintaining the integrity of property transactions in the area.

Frequently asked questions

What is the current guideline value of Saravana Nagar 4th Street?

The current guideline value of Saravana Nagar 4th 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 4th Street?

Saravana Nagar 4th Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Saravana Nagar 4th Street?

The Selaiyur Sub Registrar Office handles registrations for Saravana Nagar 4th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.