Guideline Value for Sri Jeyandra Saraswathy Nagar

Sri Jeyandra Saraswathy Nagar guideline value

The current guideline value of Sri Jeyandra Saraswathy Nagar is Rs 4,290 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO, with a land classification of Mixed Special Type - II.

How the guideline value of Sri Jeyandra Saraswathy Nagar has changed

The guideline value for Sri Jeyandra Saraswathy Nagar has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 300 per sq.ft in 2003. The subsequent revisions showed a rise to Rs 750 per sq.ft in 2007, followed by a substantial jump to Rs 3,900 per sq.ft in 2012. However, the value decreased to Rs 2,613 per sq.ft in 2017. The 2023 revision set the value at Rs 3,900 per sq.ft, and the most recent 2024 revision has increased it to Rs 4,290 per sq.ft.

From 2017 to 2023, there was a 49% increase in the guideline value. The most notable change occurred from 2007 to 2012, where the value surged by 420%. The overall change from 2002 to 2024 reflects a remarkable increase of 2,219%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Sri Jeyandra Saraswathy Nagar is above this median.

• Sri Krishna Nagar Annex: Rs 3,520 per sq.ft (2024)
• Srinivasan Nagar: Rs 3,520 per sq.ft (2024)
• Sri Ram Nagar: Rs 3,520 per sq.ft (2024)
• Sri Ram Nagar Cross Road: Rs 3,520 per sq.ft (2024)
• Sri Ram Nagar IIIrd Main Road: Rs 3,520 per sq.ft (2024)
• Sri Ram Nagar II nd Main Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jeyandra Saraswathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value would be Rs 42,90,000. The stamp duty at 7% would amount to Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, bringing the total to Rs 3,86,100. It is important to note that 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 Sri Jeyandra Saraswathy Nagar?

The Sub Registrar Office that covers Sri Jeyandra Saraswathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value helps maintain transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Jeyandra Saraswathy Nagar?

The current guideline value of Sri Jeyandra Saraswathy Nagar is Rs 4,290 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 185 per sq.ft in 2002 to Rs 4,290 per sq.ft in 2024, reflecting an overall increase of 2,219%.

What is the stamp duty rate for properties in Sri Jeyandra Saraswathy Nagar?

The stamp duty rate for properties in Sri Jeyandra Saraswathy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Jeyandra Saraswathy Nagar?

The Sub Registrar Office for Sri Jeyandra Saraswathy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as the basis for calculating stamp duty and registration fees. It ensures that properties are registered at a minimum value, promoting transparency and compliance in real estate dealings.