Guideline Value for SAGADEVAN STREET

Sagadevan Street guideline value

The current guideline value of Sagadevan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sagadevan Street has changed

Over the years, the guideline value of Sagadevan Street has seen several revisions. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant increase of 122%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decline of 33%. The following revision in 2023 raised the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 2,200 per sq.ft, reflecting an increase of 10% from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Sagadevan Street.

• Sai Garden: Rs 3,300 per sq.ft (2024)
• Sabari Nagar: Rs 2,200 per sq.ft (2024)
• Sairam Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sagadevan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sagadevan Street?

The Sub Registrar Office that covers Sagadevan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Medavakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property registrations. It ensures that the transaction is officially recorded and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of Sagadevan Street?

The current guideline value of Sagadevan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the land classification of Sagadevan Street?

Sagadevan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sagadevan Street?

The Sub Registrar Office for Sagadevan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Sagadevan Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,54,000.