Guideline Value for Sarangapani Street ( Ward No.23 )

Sarangapani Street ( Ward No.23 ) guideline value

The current guideline value of Sarangapani Street ( Ward No.23 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Sarangapani Street ( Ward No.23 ) has changed

The guideline value for Sarangapani Street ( Ward No.23 ) has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

In summary, from 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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. The median guideline value is Rs 1,600 per sq.ft, placing Sarangapani Street's 2024 figure below this median.

• Sarangapani St (Ward-11): 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 Street ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to 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, making the total cost Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarangapani Street ( Ward No.23 )?

The Sub Registrar Office that covers Sarangapani Street ( Ward No.23 ) 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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications involved in the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the property transaction. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sarangapani Street ( Ward No.23 )?

The current guideline value of Sarangapani Street ( Ward No.23 ) 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 several times, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Sarangapani Street ( Ward No.23 )?

Sarangapani Street ( Ward No.23 ) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

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

Several other streets in Madhavaram have the same guideline value of Rs 1,300 per sq.ft for 2024, including Sarangapani St (Ward-11), Sarangapani Salai, Sarangapani Nagar, and various streets in Sapthagiri Nagar.

Where can I find the Madhavaram Sub Registrar Office?

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.