Guideline Value for Saravanabawa Nagar

Saravanabawa Nagar guideline value

The current guideline value of Saravanabawa Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Saravanabawa Nagar has changed

Over the years, the guideline value of Saravanabawa Nagar has seen significant changes. In 2007, the guideline value was Rs 200 per sq.ft, which increased dramatically to Rs 2,100 per sq.ft in 2012, marking a rise of 950%. However, it then decreased to Rs 1,407 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 2,100 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 2,310 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 1,055%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, which is equal to the current guideline value of Saravanabawa Nagar.

• Sardar Adikesavalu Nagar: Rs 1,650 per sq.ft (2024)
• Sarojini Street: Rs 2,310 per sq.ft (2024)
• Sasi Varadhan Nagar: Rs 1,980 per sq.ft (2024)
• Sasivaradhan Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,970 per sq.ft (2024)
• Saranga Avenue: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Saravanabawa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Saravanabawa Nagar?

The Sub Registrar Office that covers Saravanabawa Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay during the registration process. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Saravanabawa Nagar?

The current guideline value of Saravanabawa Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 200 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 1,055%.

What is the land classification of Saravanabawa Nagar?

Saravanabawa Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Saravanabawa Nagar?

For a 1,000 sq.ft property, the total guideline value is Rs 23,10,000, with stamp duty at Rs 1,61,700 and registration fees at Rs 46,200, totaling Rs 2,07,900.

Where is the Sub Registrar Office for Saravanabawa Nagar located?

The Sub Registrar Office for Saravanabawa Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.