Guideline Value for Sri Saravana Nagar

Sri Saravana Nagar guideline value

The current guideline value for Sri Saravana Nagar, located in Malaipattu village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Saravana Nagar has changed

Over the years, the guideline value for Sri Saravana Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following this, the 2023 revision brought the value back to Rs 200 per sq.ft, and the most recent 2024 revision has kept it at Rs 200 per sq.ft, showing no change from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In summary, from the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the overall change from the 2012 revision to the 2024 revision shows no net change, as the value has returned to Rs 200 per sq.ft.

Guideline values in Malaipattu

Malaipattu village consists of 36 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,181 per sq.ft. The median value in this village is Rs 200 per sq.ft, which is equal to the current guideline value of Sri Saravana Nagar.

• SriKumaran Nagar: Rs 300 per sq.ft (2024)
• Teachers Chennai Fair Land: Rs 300 per sq.ft (2024)
• Thambaram-Sriperumbudur Salai(Pazhavathamman kovil to Bustop): Rs 441 per sq.ft (2024)
• Thirumallai Nayakar Street: Rs 150 per sq.ft (2024)
• Thriuveethiamman Street: Rs 150 per sq.ft (2024)
• Vignesh Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to 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 Sri Saravana Nagar?

The Sub Registrar Office that covers Sri Saravana Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Malaipattu. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value serves as a benchmark for the official registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall costs associated with property transactions. The guideline value is regularly updated, reflecting changes in the real estate market, and it is advisable to check for the latest figures before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Sri Saravana Nagar?

The current guideline value of Sri Saravana Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Saravana Nagar has seen various revisions, with the most recent being Rs 200 per sq.ft since 2023. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification of Sri Saravana Nagar?

Sri Saravana Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Saravana Nagar located?

The Sub Registrar Office for Sri Saravana Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.