Guideline Value for Sarojini Nagar

Sarojini Nagar guideline value

The current guideline value of Sarojini Nagar in Nandhivaram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Sarojini Nagar has changed

The guideline value of Sarojini Nagar has seen several revisions over the years. The earliest recorded value in 2002 was Rs 87 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a significant rise of 277%. This was followed by a jump to Rs 1,000 per sq.ft in 2012, reflecting a 205% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The most recent revisions in 2023 and 2024 have maintained the value at Rs 1,000 per sq.ft, showing no change between these two years.

The register has no figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1049%.

Guideline values in Nandhivaram

Nandhivaram village has 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, placing Sarojini Nagar's 2024 figure below that median.

• Saraswathi Avenue: Rs 1,500 per sq.ft (2024)
• Sathya Sai Nagar: Rs 1,200 per sq.ft (2024)
• School Street: Rs 1,200 per sq.ft (2024)
• Selvaraj Nagar: Rs 1,000 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,200 per sq.ft (2024)
• Sakthi Nagar Extn: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to 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 information.

Which Sub Registrar Office covers Sarojini Nagar?

The Sarojini Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Nandhivaram. It serves as the basis for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarojini Nagar?

The current guideline value of Sarojini Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 87 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017. The value has remained at Rs 1,000 per sq.ft for both 2023 and 2024 revisions.

What are the other streets in Nandhivaram and their guideline values?

Other streets in Nandhivaram include Saraswathi Avenue at Rs 1,500 per sq.ft, Sathya Sai Nagar at Rs 1,200 per sq.ft, and Selvaraj Nagar also at Rs 1,000 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Sarojini Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would be Rs 90,000.

Which Sub Registrar Office covers Sarojini Nagar?

The Gooduvancheri Sub Registrar Office covers Sarojini Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.