Guideline Value for Saradambal Street

Saradambal Street guideline value

The current guideline value of Saradambal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Saradambal Street has changed

The guideline value for Saradambal Street has seen several revisions over the years. In 2002, the value was Rs 323 per sq.ft, which increased to Rs 353 per sq.ft in 2003. The following revisions were significant, with the value jumping to Rs 550 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before rising again to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was a remarkable 445%, while the value decreased by 33% from 2012 to 2017. The increase from 2023 to 2024 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 922%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value for the village is Rs 4,400 per sq.ft, which means that Saradambal Street's 2024 figure is below that median.

• Sannathi Street: Rs 4,950 per sq.ft (2024)
• Saravana Colony - Sri Ramalu Street: Rs 4,950 per sq.ft (2024)
• Sankaralingam Street: Rs 3,850 per sq.ft (2024)
• Sampoornam Avenue (off Arcot Road): Rs 6,600 per sq.ft (2024)
• Sastri Nagar: Rs 4,400 per sq.ft (2024)
• Sastri Street 1st Cross Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Saradambal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees together Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saradambal Street?

The Sub Registrar Office that covers Saradambal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Saradambal Street?

The current guideline value of Saradambal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 323 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 922% over this period.

What is the median guideline value in Saligramam?

The median guideline value for the 333 streets in Saligramam is Rs 4,400 per sq.ft as of 2024, which is higher than the guideline value of Saradambal Street.

What are the stamp duty and registration fees for property in Saradambal Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Saradambal Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Saradambal Street.