Guideline Value for Saraswathi Nagar 5th Street

Saraswathi Nagar 5th Street guideline value

The current guideline value of Saraswathi Nagar 5th 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 Nagar 5th Street has changed

The guideline value for Saraswathi Nagar 5th Street has undergone several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased this value to 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 years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Rs 3,300 per sq.ft for Saraswathi Nagar 5th Street is above this median.

• Saraswathi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Andal Nagar Extn: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar 5th 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 cost for stamp duty and registration fee to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Saraswathi Nagar 5th Street?

The Sub Registrar Office that covers Saraswathi Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To locate your SRO, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence negotiations and final sale prices. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 5th Street?

The current guideline value of Saraswathi Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

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

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate applicable for properties in Saraswathi Nagar 5th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saraswathi Nagar 5th Street?

The Sub Registrar Office for Saraswathi Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Other streets in Madipakkam-1 under the Velacheri SRO have a guideline value of Rs 3,300 per sq.ft for several streets, including Saraswathi Nagar 6th, 4th, 7th, 3rd, 8th Streets, and Andal Nagar Extn.