Guideline Value for SAROJINI NAGAR

Sarojini Nagar guideline value

The current guideline value of Sarojini Nagar, located in Madurabakkam village under the Selaiyur SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sarojini Nagar has changed

The guideline value for Sarojini Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, which is an increase from Rs 2,250 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the value was Rs 1,500 per sq.ft, resulting in a significant increase of 50% to the 2023 figure. The overall change from 2017 to 2024 is a rise of 67%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available revisions are from 2017, 2023, and 2024.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which indicates that Sarojini Nagar's 2024 figure is above this median.

• Shankar Nagar: Rs 1,300 per sq.ft (2024)
• Silver Crest: Rs 1,700 per sq.ft (2024)
• Rajkham Siver Crest (Lo): Rs 1,300 per sq.ft (2024)
• Periya Street: Rs 1,300 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)
• Vedhagiri Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 Sarojini Nagar?

The Sub Registrar Office covering Sarojini Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property in Madurabakkam, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sarojini Nagar?

The current guideline value of Sarojini Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2017 to Rs 2,250 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in 2024, showing significant increases over the years.

What is the land classification for Sarojini Nagar?

Sarojini Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sarojini Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.