Guideline Value for Saraswathi Nagar 7th Street

Saraswathi Nagar 7th Street guideline value

The current guideline value of Saraswathi Nagar 7th 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 7th Street has changed

The guideline value for Saraswathi Nagar 7th Street has seen significant changes over the years. The earliest revision available is from 2017, which set the guideline value at Rs 2,010 per sq.ft. With the most recent revision in 2024, the guideline value increased to Rs 3,300 per sq.ft, marking a substantial rise of 64% from the 2017 figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. This means that the only recorded values are from 2017 and 2024, highlighting the notable increase in the guideline value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values in 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, positioning Saraswathi Nagar 7th Street's 2024 figure above this median.

• Saraswathi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Andal Nagar Extn: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 4th Street: 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 7th 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 these fees 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 7th Street?

The Saraswathi Nagar 7th Street falls under 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 crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It is important to be aware of the current guideline value to understand the financial implications of the purchase or sale.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 7th Street?

The current guideline value of Saraswathi Nagar 7th 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, which is an increase of 64%.

Are there any revisions with no figures for Saraswathi Nagar 7th Street?

Yes, the revisions for the years 2023, 2012, 2007, 2003, and 2002 have no figures available for Saraswathi Nagar 7th Street.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 3,300 per sq.ft include Saraswathi Nagar 6th Street, 8th Street, 5th Street, Andal Nagar Extn, 4th Street, and 3rd Street.

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.