Guideline Value for Saravanan Nagar

Saravanan Nagar guideline value

The current guideline value of Saravanan Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Saravanan Nagar has changed

The guideline value for Saravanan Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, which is a 10% increase from the 2023 revision of Rs 800 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 536 per sq.ft. This marks a significant increase of 49% from 2017 to 2023 and an overall increase of 64% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

In summary, the guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024. This steady rise reflects the changes in the valuation over the years, with a notable jump occurring between the 2023 and 2024 revisions.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, making Saravanan Nagar's 2024 figure equal to this median.

• Sai Nagar: Rs 880 per sq.ft (2024)
• Sham Avenue: Rs 880 per sq.ft (2024)
• Royal Residency: Rs 770 per sq.ft (2024)
• Royal Court Phase I to III: Rs 770 per sq.ft (2024)
• Royal Court: Rs 770 per sq.ft (2024)
• Royal Avenue Part I to III: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Saravanan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saravanan Nagar?

The Sub Registrar Office that covers Saravanan 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 more details.

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

The guideline value plays a crucial role when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property transaction occurs, the guideline value is used to calculate the taxes and fees, which are essential for the legal transfer of property ownership. It is advisable for potential buyers to check the latest guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Saravanan Nagar?

The current guideline value of Saravanan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64%. The most recent change was a 10% increase from Rs 800 per sq.ft in 2023.

What is the land classification for Saravanan Nagar?

Saravanan Nagar is classified as Residential Class I Type - I. This classification indicates the type of development permitted in the area.

Where can I find the Sub Registrar Office for Saravanan Nagar?

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

How is the stamp duty calculated for property in Saravanan Nagar?

Stamp duty for property in Saravanan Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 79,200.