Guideline Value for Saravana Street (Thiruvalluvar Nagar)

Saravana Street (Thiruvalluvar Nagar) guideline value

The current guideline value of Saravana Street (Thiruvalluvar Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Saravana Street (Thiruvalluvar Nagar) has changed

The guideline value for Saravana Street (Thiruvalluvar Nagar) has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Saravana Street's 2024 guideline value is below this median.

• Saravanan Street (Lakshmi amman Nagar): Rs 1,900 per sq.ft (2024)
• Saravanan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sarojini Ammal Street: Rs 2,500 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Street (Thiruvalluvar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravana Street (Thiruvalluvar Nagar)?

The Sub Registrar Office that covers Saravana Street (Thiruvalluvar Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that all transactions are conducted fairly and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Saravana Street (Thiruvalluvar Nagar)?

The current guideline value of Saravana Street (Thiruvalluvar Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Saravana Street (Thiruvalluvar Nagar)?

Saravana Street (Thiruvalluvar Nagar) is classified as Residential Class IV Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Saravana Street (Thiruvalluvar Nagar)?

The Madhavaram Sub Registrar Office handles registrations for Saravana Street (Thiruvalluvar Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.