Guideline Value for Sarada Nagar

Sarada Nagar guideline value

The current guideline value of Sarada Nagar, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sarada Nagar has changed

The guideline value for Sarada Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 1,675 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value for Sarada Nagar.

• Sannathi Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Sannadhi Street (Public Well Street): Rs 2,700 per sq.ft (2024)
• Saravana Nagar: Rs 2,700 per sq.ft (2024)
• Saravanan Cross Street: Rs 2,200 per sq.ft (2024)
• Saravanan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Saravana Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sarada Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarada Nagar?

The Sub Registrar Office that covers Sarada Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sarada Nagar?

The current guideline value of Sarada Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 in 2012 to Rs 1,675 in 2017, then back to Rs 2,500 in 2023, and finally to Rs 2,700 in 2024.

What is the land classification for Sarada Nagar?

Sarada Nagar falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for a property in Sarada Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Sarada Nagar?

The Madhavaram Sub Registrar Office handles registrations for Sarada Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.