Guideline Value for Saraswathi Ammal Street

Saraswathi Ammal Street guideline value

The current guideline value of Saraswathi Ammal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - II.

How the guideline value of Saraswathi Ammal Street has changed

The guideline value for Saraswathi Ammal Street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, placing Saraswathi Ammal Street's 2024 figure above this median.

• Saraswathi Nagar: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 1st Street, A.G.S. Colony: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 1st Street (S.No.29/1G): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 on calculating stamp duty and registration fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Ammal Street?

The Sub Registrar Office that covers Saraswathi Ammal Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role during the registration process. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

Buyers and sellers must consider the guideline value when negotiating the sale price, as it affects the stamp duty and registration fees. The registration department uses the guideline value to calculate the applicable charges, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Saraswathi Ammal Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of 64%.

What is the stamp duty on property in Saraswathi Ammal Street?

The stamp duty for property in Saraswathi Ammal Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 3,300 per sq.ft, similar to Saraswathi Ammal Street. These streets include Saraswathi Nagar and its various cross streets and main roads.