Guideline Value for Sarangapani Nagar

Sarangapani Nagar guideline value

The current guideline value of Sarangapani Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Sarangapani Nagar has changed

Over the years, the guideline value of Sarangapani Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

When looking at the changes, the guideline value increased by 49% from 2017 to 2023. From 2023 to 2024, there was an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Sarangapani Nagar's current figure is below that median.

• Sarangapani Salai: Rs 1,300 per sq.ft (2024)
• Sarangapani Street ( Ward No.23 ): Rs 1,300 per sq.ft (2024)
• Sarangapani St (Ward-11): 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarangapani Nagar?

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

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the taxes are appropriately assessed based on the property's value.

When buying or selling property, the guideline value helps in determining the legal sale price of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Sarangapani Nagar?

The current guideline value of Sarangapani Nagar 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, indicating that Sarangapani Nagar's current value is below this median.

What are the registration fees for a property in Sarangapani Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Sarangapani Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Sarangapani Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.