Guideline Value for Sarojini Street

Sarojini Street guideline value

The current guideline value of Sarojini Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Sarojini Street has changed

The guideline value for Sarojini Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This figure increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, it then decreased to Rs 1,407 per sq.ft in 2017, a decline of 33%. The most recent revisions show a steady increase, with the value rising to Rs 2,100 per sq.ft in 2023 and then to Rs 2,310 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Sarojini Street. Overall, from 2007 to 2024, the guideline value has increased by 824%, illustrating significant changes in valuation over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with the median value being Rs 2,310 per sq.ft. Sarojini Street's current guideline value aligns perfectly with this median.

• Sardar Adikesavalu Nagar: Rs 1,650 per sq.ft (2024)
• Sasi Varadhan Nagar: Rs 1,980 per sq.ft (2024)
• Sasivaradhan Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 per sq.ft (2024)
• Sathguru Apartments: Rs 2,640 per sq.ft (2024)
• Sathiya Moorthy Lane: Rs 2,310 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, while the registration fee at 2% would be Rs 46,200. Together, the total cost for these fees would be Rs 2,07,900. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sarojini Street?

The Sub Registrar Office that covers Sarojini Street 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 further assistance.

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

The guideline value is a crucial element in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher of the guideline value or the actual sale price is used to calculate these fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarojini Street?

The current guideline value of Sarojini Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, starting at Rs 250 per sq.ft in 2007, increasing to Rs 2,100 in 2012, then decreasing to Rs 1,407 in 2017, and finally rising to Rs 2,310 in 2024.

What is the land classification for Sarojini Street?

Sarojini Street falls under the Residential Class II Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property on Sarojini Street?

For a 1,000 sq.ft property, the total guideline value is Rs 23,10,000. The stamp duty would be Rs 1,61,700 and the registration fee Rs 46,200, totaling Rs 2,07,900.

Where is the Sub Registrar Office for Sarojini Street located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, and is responsible for the registration of properties in Sarojini Street.