Guideline Value for Saraswathi Nagar 8th Street

Saraswathi Nagar 8th Street guideline value

The current guideline value of Saraswathi Nagar 8th 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. The land classification for this area is Residential Class I Type - II.

How the guideline value of Saraswathi Nagar 8th Street has changed

The guideline value register does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar 8th Street. The latest revision in 2024 sets the guideline value at Rs 3,300 per sq.ft.

Since there are no figures available for the previous revisions, there have been no changes in the guideline value for this street over the years. The only available figure is from the 2024 revision.

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 in this area is Rs 2,750 per sq.ft, making the 2024 figure for Saraswathi Nagar 8th Street above the median.

• Saraswathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Andal Nagar Extn: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar East 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar 8th 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 8th Street?

The Sub Registrar Office that covers Saraswathi Nagar 8th Street is 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 an important factor during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps in establishing a fair price for both parties involved. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar 8th Street?

The current guideline value of Saraswathi Nagar 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar 8th Street. The only available figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

What is the land classification for Saraswathi Nagar 8th Street?

The land classification for Saraswathi Nagar 8th Street is Residential Class I Type - II.

What are the registration fees for properties in this area?

The registration fees for properties are based on the guideline value. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can visit this office for all registration-related queries.