Guideline Value for SARADHAPURAM MAIN ROAD

Saradhapuram Main Road guideline value

The current guideline value of Saradhapuram Main Road is Rs 8,200 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Saradhapuram Main Road has changed

The guideline value for Saradhapuram Main Road has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,540 per sq.ft. This figure rose significantly to Rs 7,500 per sq.ft in 2012, marking an increase of 387%. However, the value dropped to Rs 5,025 per sq.ft in the 2017 revision, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 8,200 per sq.ft, reflecting an increase of 63% from the previous figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, positioning Saradhapuram Main Road below this median.

• Saradhapuram (Canal Road) (Venkatesa Agraharam): Rs 8,200 per sq.ft (2024)
• Saradhapuram 2nd Street: Rs 8,200 per sq.ft (2024)
• Saradhapuram 1st Street: Rs 8,200 per sq.ft (2024)
• SANTHOME HIGH ROAD(Trust Cross Street, Leeth Castle Road to Kamarajar Salai): Rs 22,000 per sq.ft (2024)
• SANTHOME HIGH ROAD(Greenways Road to Trust Cross Street and Leeth Castle): Rs 22,000 per sq.ft (2024)
• Sanjeevi Street Thalaiyari Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saradhapuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, leading to a combined total of Rs 7,38,000. 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 Saradhapuram Main Road?

The Sub Registrar Office covering Saradhapuram Main Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's assessed value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the registration authorities. It is essential to consider this value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Saradhapuram Main Road?

The current guideline value of Saradhapuram Main Road is Rs 8,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,540 per sq.ft to Rs 8,200 per sq.ft in 2024, marking an overall increase of 432%.

What is the land classification for Saradhapuram Main Road?

Saradhapuram Main Road is classified as Residential Class IV Type - I.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Saradhapuram Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 at a rate of 7%.