Guideline Value for Sri Saravana Nagar

Sri Saravana Nagar guideline value

The current guideline value of Sri Saravana Nagar is Rs 650 per sq.ft, effective from 1 July 2024. This area is located in Moonramkattalai village, under the jurisdiction of the Kunrathur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Saravana Nagar has changed

The guideline value for Sri Saravana Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which saw a significant increase to Rs 600 per sq.ft in 2012, marking a 300% rise. However, this value decreased to Rs 402 per sq.ft in 2017, reflecting a decline of 33%. The value then rose sharply to Rs 600 per sq.ft in 2023, and further increased to Rs 650 per sq.ft in 2024, which is an 8% rise from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 333%.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft. The median value is Rs 650 per sq.ft, placing the guideline value of Sri Saravana Nagar at this median level.

• Sri Saravana Nagar IIIrd Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Iind Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Ist Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Ivth Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Vth Street: Rs 650 per sq.ft (2024)
• Subbalakshmi Nagar: Rs 650 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 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, while the registration fee at 2% would be Rs 13,000. Together, the total cost for these fees would be Rs 58,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Moonramkattalai. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When you buy or sell a property, the guideline value helps to ensure that the transaction is recorded accurately and fairly. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Saravana Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 650 per sq.ft in 2024, reflecting an overall increase of 333% over this period.

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

For a property valued at Rs 6,50,000, the stamp duty would be Rs 45,500 and the registration fee would be Rs 13,000, totaling Rs 58,500.

Which office handles property registrations in Sri Saravana Nagar?

The Kunrathur Sub Registrar Office is responsible for property registrations in Sri Saravana Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Saravana Nagar?

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