Guideline Value for Saraswathi Nagar 6th Street

Saraswathi Nagar 6th Street guideline value

The current guideline value of Saraswathi Nagar 6th 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, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Saraswathi Nagar 6th Street has changed

In the 2017 revision, the guideline value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current guideline value of Rs 3,300 per sq.ft in the 2024 revision reflects a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, positioning Saraswathi Nagar 6th Street above this median.

• Saraswathi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Andal Nagar Extn: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar 6th Street

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

Which Sub Registrar Office covers Saraswathi Nagar 6th Street?

The Saraswathi Nagar 6th Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a standard reference used during property registration in Madipakkam-1. It helps determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the registration reflects the correct financial implications of the property transfer.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 6th Street?

The current guideline value of Saraswathi Nagar 6th 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, representing an overall increase of 64%.

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

Other streets in Madipakkam-1 have a guideline value of Rs 3,300 per sq.ft in 2024, including Saraswathi Nagar 5th, 7th, 8th, 4th, Andal Nagar Extn, and 3rd Streets.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Saraswathi Nagar 6th Street?

The Velacheri Sub Registrar Office handles the registration for Saraswathi Nagar 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.