Guideline Value for Saravana Street

Saravana Street guideline value

The current guideline value of Saravana Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from the 2024 revision. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Saravana Street has changed

The guideline value for Saravana Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 2,500 per sq.ft in the 2023 revision, and then rose again to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

There are no recorded figures for Saravana Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Saravana Street.

• Saravanan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Saravanan Cross Street: Rs 2,200 per sq.ft (2024)
• Saravana Nagar: Rs 2,700 per sq.ft (2024)
• Sarvapalli Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana 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 and the sale price.

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

Which Sub Registrar Office covers Saravana Street?

The Sub Registrar Office covering Saravana Street 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 Kodungaiyur

The guideline value is a crucial factor during property registration in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that the registration process is transparent and standardized across properties in the region.

Frequently asked questions

What is the current guideline value of Saravana Street?

The current guideline value of Saravana Street is Rs 2,700 per sq.ft, effective from the 2024 revision.

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 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 Street?

Saravana Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Saravana Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.