Guideline Value for Sri Saravana Nagar Phase I

Sri Saravana Nagar Phase I guideline value

The current guideline value of Sri Saravana Nagar Phase I is Rs 500 per sq.ft. This area is located in Orathur village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Sri Saravana Nagar Phase I has changed

Over the years, the guideline value for Sri Saravana Nagar Phase I has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following this, the guideline value increased significantly by 49% to Rs 500 per sq.ft in the 2023 revision, and it remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that the register does not provide figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows no percentage change, as the value returned to Rs 500 per sq.ft.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is the same as the current guideline value for Sri Saravana Nagar Phase I.

• Sri Saravana Nagar: Rs 500 per sq.ft (2024)
• Sri SaiRam Nagar: Rs 600 per sq.ft (2024)
• Sri Shanmuga Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sri Suraikai Chittar Nagar: Rs 400 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravana Nagar Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Saravana Nagar Phase I?

The Sub Registrar Office that covers Sri Saravana Nagar Phase I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Orathur. It is used to determine the stamp duty and registration fees during the buying or selling process, ensuring that the transaction is recorded at an official value.

When registering a property, the guideline value is considered to ensure that the property is valued correctly for taxation purposes. Buyers and sellers should be aware of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Saravana Nagar Phase I?

The current guideline value of Sri Saravana Nagar Phase I is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Saravana Nagar Phase I has remained at Rs 500 per sq.ft since 2012, with a notable decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Sri Saravana Nagar Phase I?

Sri Saravana Nagar Phase I is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Sri Saravana Nagar Phase I?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sri Saravana Nagar Phase I?

The Gooduvancheri Sub Registrar Office handles registrations for Sri Saravana Nagar Phase I, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.