Guideline Value for SARANALAYA NAGAR PHASE-I

Saranalaya Nagar Phase-I guideline value

The current guideline value of Saranalaya Nagar Phase-I is Rs 150 per sq.ft. This area is located in Vinayaganaloore village, under the Madurandakam Sub Registrar Office (SRO), and is classified as Mixed Type - II land.

How the guideline value of Saranalaya Nagar Phase-I has changed

Over the years, the guideline value for Saranalaya Nagar Phase-I has seen several revisions. The earliest recorded figure is from 2012, which was Rs 150 per sq.ft. In 2017, the value dropped to Rs 100 per sq.ft, marking a decrease of 33%. However, this was followed by a significant increase of 50% in 2023, bringing the value back to Rs 150 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline values from 2012, 2017, 2023, and 2024 are the only applicable figures for Saranalaya Nagar Phase-I.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are eight streets under the Madurandakam SRO that carry a 2024 guideline value. The values range from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 102 per sq.ft. The guideline value for Saranalaya Nagar Phase-I is above this median, indicating a higher valuation compared to some other streets in the village.

• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Raja Nagar: Rs 103 per sq.ft (2024)
• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Vasantham Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Saranalaya Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, and the registration fee, charged at 2%, would be Rs 3,000. Together, the total fees would amount to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Saranalaya Nagar Phase-I?

The Sub Registrar Office that covers Saranalaya Nagar Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Vinayaganaloore. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. When buying or selling property, the guideline value will be used to calculate these fees, which are mandatory during the registration process.

Additionally, buyers should be aware that the guideline value may differ from the actual sale price of the property. In cases where the sale price exceeds the guideline value, the higher figure will be used to determine the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Saranalaya Nagar Phase-I?

The current guideline value of Saranalaya Nagar Phase-I is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 keeping it at Rs 150 per sq.ft. It was Rs 150 per sq.ft in 2023, Rs 100 per sq.ft in 2017, and Rs 150 per sq.ft in 2012.

What is the land classification for Saranalaya Nagar Phase-I?

Saranalaya Nagar Phase-I is classified as Mixed Type - II land, which may indicate a mix of residential and commercial uses.

Where can I find the Sub Registrar Office for Saranalaya Nagar Phase-I?

The Madurandakam Sub Registrar Office covers Saranalaya Nagar Phase-I and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Saranalaya Nagar Phase-I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 10,500 based on the guideline value of Rs 1,50,000.