Guideline Value for Saravana Nagar 7th Street

Saravana Nagar 7th Street guideline value

The current guideline value of Saravana Nagar 7th Street is Rs 2,700 per sq.ft. 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 7th Street has changed

Over the years, the guideline value of Saravana Nagar 7th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. In 2023, the value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. Additionally, the value jumped significantly from 2017 to 2023, with a 49% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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, making the 2024 figure for Saravana Nagar 7th Street above that median.

• Saravana Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 5th 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 7th 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 fees 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Saravana Nagar 7th Street?

The Sub Registrar Office that covers Saravana Nagar 7th 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs involved in the transaction. Buyers should consider this value when negotiating sale prices, as the registration fees will be calculated based on the higher of the guideline value or the agreed sale price.

Frequently asked questions

What is the current guideline value of Saravana Nagar 7th Street?

The current guideline value of Saravana Nagar 7th 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 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. There was also a significant increase of 49% from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What is the land classification for Saravana Nagar 7th Street?

The land classification for Saravana Nagar 7th Street is Residential Special Type - I.

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 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, 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, leading to a stamp duty of Rs 1,89,000 at 7%.