Guideline Value for Sarojini Cross Street

Sarojini Cross Street guideline value

The current guideline value of Sarojini Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Sarojini Cross Street has changed

The guideline value for Sarojini Cross Street has seen several revisions over the years. In 2003, the guideline value was Rs 246 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a significant increase of 144%. The value then surged to Rs 3,000 per sq.ft in 2012, a remarkable increase of 400%. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and subsequently increased to Rs 3,300 per sq.ft in 2024, representing a 10% rise.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1241%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Sarojini Cross Street.

• Sarojini St Extension: Rs 3,300 per sq.ft (2024)
• Sarojini Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 1st Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 details.

Which Sub Registrar Office covers Sarojini Cross Street?

The Sub Registrar Office that covers Sarojini Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sarojini Cross Street?

The current guideline value of Sarojini Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 246 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1241%.

What is the land classification for Sarojini Cross Street?

Sarojini Cross Street is classified as Residential Class I Type - II under the land classification system.

What is the registration office for Sarojini Cross Street?

The registration office for Sarojini Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Zaminpallavaram?

The stamp duty for properties in Zaminpallavaram is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.