Guideline Value for Saravanabhava Nagar

Saravanabhava Nagar guideline value

The current guideline value of Saravanabhava Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Saravanabhava Nagar has changed

Over the years, the guideline value of Saravanabhava Nagar has seen significant changes. In 2007, the value was Rs 250 per sq.ft, which increased dramatically to Rs 3,300 per sq.ft in 2012, marking a rise of 1220%. However, from 2012 to 2017, the value decreased to Rs 2,211 per sq.ft, a decline of 33%. The value then rose again to Rs 3,300 per sq.ft in 2023, representing a substantial increase of 49% from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 3,630 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1352%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Saravanabhava Nagar's 2024 figure above that median.

• Sasikumar Nagar: Rs 1,210 per sq.ft (2024)
• Sarang Avenue 4th Street: Rs 3,630 per sq.ft (2024)
• Saranga Avenue: Rs 3,630 per sq.ft (2024)
• Sathyavani Muthu Street: Rs 1,210 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saravanabhava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total fees to Rs 3,26,700. 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 information.

Which Sub Registrar Office covers Saravanabhava Nagar?

The Sub Registrar Office that covers Saravanabhava 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 Mudichur

The guideline value is a crucial factor when registering property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings. Buyers and sellers must consider the guideline value to comply with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, including stamp duty and registration charges. This ensures that the fees are based on a standardized value, which helps in maintaining fairness in property transactions.

Frequently asked questions

What is the current guideline value of Saravanabhava Nagar?

The current guideline value of Saravanabhava Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 3,630 per sq.ft in 2024, marking an overall increase of 1352%.

What is the land classification of Saravanabhava Nagar?

Saravanabhava Nagar is classified as Commercial Class I Type - I under the Padappai SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Saravanabhava Nagar located?

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