Guideline Value for Saravanapuri Nagar

Saravanapuri Nagar guideline value

The current guideline value of Saravanapuri Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Saravanapuri Nagar has changed

The guideline value of Saravanapuri Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft, marking a decline of 33%. However, in the subsequent revisions, the value increased significantly. By the 2023 revision, the value returned to Rs 150 per sq.ft, reflecting a 50% increase from the 2017 figure. The most recent 2024 revision has maintained this value at Rs 150 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only available figures are from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Vallam

In Vallam village, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. Saravanapuri Nagar's 2024 guideline value is below this median.

• Samayapurathamman Nagar: Rs 200 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Rayappar Street: Rs 200 per sq.ft (2024)
• Sowndari garden: Rs 600 per sq.ft (2024)
• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Saravanapuri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000. Thus, the total cost for stamp duty and registration fees would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saravanapuri Nagar?

The Sub Registrar Office that covers Saravanapuri Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must ensure that the transaction value is aligned with the guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, which is based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Saravanapuri Nagar?

The current guideline value of Saravanapuri Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023, and remains at Rs 150 per sq.ft in 2024.

What is the land classification for Saravanapuri Nagar?

Saravanapuri Nagar is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Saravanapuri Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.