Guideline Value for SARANYA NAGAR

Saranya Nagar guideline value

The current guideline value of Saranya Nagar, located in Kizhavalem village under the Madurandakam SRO, is Rs 102 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Saranya Nagar has changed

The guideline value for Saranya Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which was then reduced to Rs 167 per sq.ft in the 2017 revision. This marked a decrease of 33%. Following this, the 2023 revision further decreased the value to Rs 100 per sq.ft, reflecting a significant drop of 40% from the previous revision. The current 2024 revision has increased the guideline value to Rs 102 per sq.ft, a rise of 2% from 2023.

Overall, from the 2012 revision to the 2024 revision, the guideline value has decreased by 59%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kizhavalem

In Kizhavalem, there are 19 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 103 per sq.ft, placing Saranya Nagar's 2024 figure below this median.

• Safa Nagar Phase-III: Rs 120 per sq.ft (2024)
• Safa Nagar Part - II: Rs 120 per sq.ft (2024)
• Ryan Garden Village: Rs 100 per sq.ft (2024)
• Sri Balaji Associates Sri Ranga Nagar State Hith Way Golden City: Rs 100 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 400 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Saranya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total fees together to Rs 9,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saranya Nagar?

The Sub Registrar Office that covers Saranya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kizhavalem. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that both the government and the parties involved in the transaction adhere to the established financial obligations.

Frequently asked questions

What is the current guideline value of Saranya Nagar?

The current guideline value of Saranya Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, decreasing from Rs 250 per sq.ft in 2012 to Rs 102 per sq.ft in 2024, which is a total decrease of 59% over this period.

What are the stamp duty rates in Saranya Nagar?

The stamp duty in Saranya Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Saranya Nagar?

The Madurandakam Sub Registrar Office handles registrations for Saranya Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the median guideline value for streets in Kizhavalem?

The median guideline value for the 19 streets in Kizhavalem under the Madurandakam SRO is Rs 103 per sq.ft, with Saranya Nagar's current value being below this median.