Guideline Value for Sadasivam Nagr Extn

Sadasivam Nagr Extn guideline value

The current guideline value of Sadasivam Nagr Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sadasivam Nagr Extn has changed

The guideline value for Sadasivam Nagr Extn has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This value increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, and Sadasivam Nagr Extn's 2024 figure is above this median.

• Sadasivam Nagar, Ram Nagar South: Rs 2,750 per sq.ft (2024)
• Sadasivam Nagar/Ram Nagar North Extension / Sivaraman Street: Rs 3,850 per sq.ft (2024)
• Sadasivam Street, Ram Nagar North Extension: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar, Ram Nagar North Extension, Rajagopalapuram Extension: Rs 3,850 per sq.ft (2024)
• Sadasiva Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar, Ram Nagar Laout South Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sadasivam Nagr Extn

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sadasivam Nagr Extn?

The Sub Registrar Office that covers Sadasivam Nagr Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and duty is charged on the higher of the two. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sadasivam Nagr Extn?

The current guideline value of Sadasivam Nagr Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024. This represents a total increase of 64% over the seven-year period.

What are the other streets in Madipakkam-1 and their guideline values?

Other streets in Madipakkam-1 include Sadasivam Nagar, Ram Nagar South at Rs 2,750 per sq.ft, and several others at Rs 3,850 per sq.ft. This indicates a range of guideline values within the village.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 38,50,000 would incur a total fee of Rs 3,46,500.

Where can I find the Sub Registrar Office for Sadasivam Nagr Extn?

The Velacheri Sub Registrar Office covers Sadasivam Nagr Extn and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.