Guideline Value for SARADAMBAL STREET

Saradambal Street guideline value

The current guideline value of Saradambal Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Saradambal Street has changed

The guideline value for Saradambal Street has undergone several revisions over the years. In 2002, the value was Rs 1,469 per sq.ft, which increased to Rs 1,630 per sq.ft in 2003, marking an increase of 11%. The value saw a further rise to Rs 2,000 per sq.ft in 2007, reflecting a 23% increase. In 2012, the value was Rs 5,000 per sq.ft, which was a significant jump of 150% from the previous figure. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The guideline value then increased to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 274%. There are no figures available for revisions in years other than those specified.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a guideline value for 2024, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Saradambal Street's 2024 figure below this median.

• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 3 Rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri Main Road: Rs 6,600 per sq.ft (2024)
• Sambangi Street: Rs 6,600 per sq.ft (2024)
• Sathyanarayana Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Saradambal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the 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 Saradambal Street?

The Sub Registrar Office that covers Saradambal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Mambalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

Understanding the guideline value helps in ensuring that the correct fees are paid and that the transaction is compliant with local regulations. It is advisable to consult the latest guideline values before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value of Saradambal Street?

The current guideline value of Saradambal Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,469 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 274% over the years.

What are the stamp duty and registration fees for properties in Saradambal Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Saradambal Street?

The Thiyagaraya nagar Sub Registrar Office covers Saradambal Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, which is higher than the current guideline value of Saradambal Street.