Guideline Value for Sarveswari Nagar

Sarveswari Nagar guideline value

The current guideline value of Sarveswari Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sarveswari Nagar has changed

Over the years, the guideline value of Sarveswari Nagar has seen significant changes. The 2007 revision set the value at Rs 120 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 1150%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1275%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sarveswari Nagar.

• Sastri Nagar: Rs 1,320 per sq.ft (2024)
• Saraswathi Nagar @ Selva Nagar: Rs 1,100 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,100 per sq.ft (2024)
• Sankar Avenue: Rs 1,320 per sq.ft (2024)
• Sanakiyapuri Nagar: Rs 1,650 per sq.ft (2024)
• Salom Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sarveswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value comes to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost together Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarveswari Nagar?

The Sub Registrar Office that covers Sarveswari Nagar 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 more details.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Sarveswari Nagar?

The current guideline value of Sarveswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 120 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 1275%.

What are the stamp duty and registration fees for property in Sarveswari Nagar?

For a 1,000 sq.ft plot, the guideline value is Rs 16,50,000. This results in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles property registration in Sarveswari Nagar?

The Padappai Sub Registrar Office handles property registration for Sarveswari Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sarveswari Nagar?

Sarveswari Nagar is classified as Residential Special Type - II, which influences its guideline value and property transactions.