Guideline Value for Sarojini Street

Sarojini Street guideline value

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

How the guideline value of Sarojini Street has changed

The guideline value for Sarojini Street has undergone several revisions over the years. The earliest recorded value in 2003 was Rs 246 per sq.ft. This figure saw a significant increase of 144% to reach Rs 600 per sq.ft in 2007. Following that, the value rose dramatically by 400% to Rs 3,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The value continued to rise, increasing by 49% to Rs 3,000 per sq.ft in 2023, and finally, it increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that there is no recorded guideline value for Sarojini Street in the year 2002. Overall, from 2003 to 2024, the guideline value has increased by a remarkable 1241%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values 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 the same as the current value for Sarojini Street.

• Sarojini St Extension: Rs 3,300 per sq.ft (2024)
• Sarojini Cross 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 Street

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

The Sub Registrar Office that covers Sarojini 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 crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be sold or bought. During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees.

When a buyer or seller engages in a property transaction, they must refer to the guideline value to ensure compliance with the legal requirements. This value helps in determining the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sarojini Street?

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

How has the guideline value changed over the years?

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

What is the land classification for Sarojini Street?

Sarojini Street is classified as Residential Class I Type - II under the Pallavaram SRO.

What is the registration office for Sarojini Street?

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

How is the stamp duty calculated for properties in Sarojini Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty of Rs 2,31,000.