Guideline Value for Saraswathi Nagar 3rd st Extn. ( Ward No.26 )

Saraswathi Nagar 3rd st Extn. ( Ward No.26 ) guideline value

The current guideline value for Saraswathi Nagar 3rd st Extn. ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Saraswathi Nagar 3rd st Extn. ( Ward No.26 ) has changed

Since the 2012 revision, the guideline value of Saraswathi Nagar 3rd st Extn. has seen several changes. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has set the value at Rs 1,300 per sq.ft, an increase of 8% from the previous year, 2023.

The register has no figures for the years 2002, 2003, and 2007 for this street. 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, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Saraswathi Nagar 3rd st Extn. is below the median.

• Saraswathi Nagar 2nd st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 3rd st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 1st st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 4th st ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sarangapani St (Ward-11): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar 3rd st Extn. ( Ward No.26 )

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, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar 3rd st Extn. ( Ward No.26 )?

The Saraswathi Nagar 3rd st Extn. ( Ward No.26 ) is covered by 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 a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the overall cost involved in the transaction. This ensures that both buyers and sellers are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 3rd st Extn.?

The current guideline value of Saraswathi Nagar 3rd st Extn. ( Ward No.26 ) 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for this area?

Saraswathi Nagar 3rd st Extn. is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,300 per sq.ft would incur a total of Rs 1,17,000 in fees.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it oversees property registrations in the area.