Guideline Value for Saravana Nagar 6th Street

Saravana Nagar 6th Street guideline value

The current guideline value of Saravana Nagar 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Saravana Nagar 6th Street has changed

The guideline value for Saravana Nagar 6th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the value was Rs 1,675 per sq.ft in 2017, reflecting a significant increase of 49% over the six years. The 2012 revision also recorded a value of Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 for these streets is Rs 2,150 per sq.ft, placing Saravana Nagar 6th Street's current value above this median.

• Saravana Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Nagar 6th 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 cost to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saravana Nagar 6th Street?

The Saravana Nagar 6th 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 find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are documented accurately and transparently.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Saravana Nagar 6th Street?

The current guideline value of Saravana Nagar 6th 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 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, with several revisions in between, including Rs 2,500 per sq.ft in 2023 and 2012.

What is the land classification for Saravana Nagar 6th Street?

Saravana Nagar 6th Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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.

Where is the Selaiyur Sub Registrar Office located?

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