Guideline Value for Sarangapani St (Ward-11)

Sarangapani St (Ward-11) guideline value

The current guideline value of Sarangapani St (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sarangapani St (Ward-11) has changed

The guideline value for Sarangapani St has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Sarangapani St (Ward-11) has a guideline value below this median.

• Sarangapani Street (Ward No.23): Rs 1,300 per sq.ft (2024)
• Sarangapani Salai: Rs 1,300 per sq.ft (2024)
• Sarangapani Nagar: Rs 1,300 per sq.ft (2024)
• Sapthagiri Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sapthagiri Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sapthagiri Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sarangapani St (Ward-11)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 accurate calculations.

Which Sub Registrar Office covers Sarangapani St (Ward-11)?

The Sub Registrar Office covering Sarangapani St (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that all transactions are compliant with local regulations and that the correct fees are paid based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Sarangapani St (Ward-11)?

The current guideline value for Sarangapani St (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. This represents an overall increase of 62% from 2017 to 2024.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram with a guideline value of Rs 1,300 per sq.ft in 2024 include Sarangapani Street (Ward No.23), Sarangapani Salai, Sarangapani Nagar, and several streets in Sapthagiri Nagar.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Sarangapani St (Ward-11)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000.