Guideline Value for SARADAMBAL STREET

Saradambal Street guideline value

The current guideline value of Saradambal Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Saradambal Street has changed

Since the 2002 revision, the guideline value for Saradambal Street has seen significant changes. In 2002, the value was Rs 1,557 per sq.ft, which increased to Rs 1,728 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 4,000 per sq.ft in 2007, reflecting a 131% increase. By 2012, the value reached Rs 10,000 per sq.ft, showing a 150% increase from the previous revision. However, it decreased to Rs 6,700 per sq.ft in 2017, which was a 33% drop. The value then rose to Rs 10,000 per sq.ft in 2023, and finally, it increased to Rs 11,000 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 606%. There are no figures available for revisions in years other than those specified above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with a 2024 guideline value range from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, which matches the current value for Saradambal Street.

• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sambandam 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 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saradambal Street?

The current guideline value of Saradambal Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,557 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, which is a total increase of 606% over the years.

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

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 1,10,00,000. The stamp duty is Rs 7,70,000, and the registration fee is Rs 2,20,000, totaling Rs 9,90,000.

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 land classification for Saradambal Street?

The land classification for Saradambal Street is Residential Special Type - I, indicating its designation for residential purposes.