Guideline Value for Saravanan Cross Street

Saravanan Cross Street guideline value

The current guideline value of Saravanan Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Saravanan Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%. The register does not contain figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

Thus, the only revisions that show a figure for Saravanan Cross Street are from 2012 and 2024. The increase from 2012 to 2024 reflects the adjustments made in the guideline value over the years.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, and Saravanan Cross Street's 2024 figure is below this median.

• Saravanan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Saravana Street: Rs 2,700 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 Saravanan Cross Street

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravanan Cross Street?

The Sub Registrar Office that covers Saravanan Cross 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 in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This value helps ensure transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Saravanan Cross Street?

The current guideline value of Saravanan Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, which set the value at Rs 2,000 per sq.ft, the guideline value has increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have a guideline value of Rs 2,700 per sq.ft in 2024. This includes Saravanan Street (Krishnamoorthy Nagar), Saravana Street, Saravana Nagar, Sarvapalli Street (Krishnamoorthy Nagar), Sasirekkamma Nagar 10th Street, and Sasirekkamma Nagar 1st Street.

What fees are associated with buying property on Saravanan Cross Street?

When purchasing property on Saravanan Cross Street, the buyer should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saravanan Cross Street?

The Madhavaram Sub Registrar Office covers Saravanan Cross Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.