Guideline Value for Saraswathi Nagar Andal Nagar Extn

Saraswathi Nagar Andal Nagar Extn guideline value

The current guideline value of Saraswathi Nagar Andal Nagar Extn is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - II.

How the guideline value of Saraswathi Nagar Andal Nagar Extn has changed

The guideline value register for Saraswathi Nagar Andal Nagar Extn shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 3,300 per sq.ft.

Prior to the 2024 revision, there are no recorded figures for this street in the guideline value register. Therefore, the 2024 figure represents the first entry for this street.

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 for this area is Rs 2,750 per sq.ft, placing the 2024 figure for Saraswathi Nagar Andal Nagar Extn above this median.

• Saraswathi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar East 1st Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar East 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar Andal Nagar Extn

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. 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 more information.

Which Sub Registrar Office covers Saraswathi Nagar Andal Nagar Extn?

The Saraswathi Nagar Andal Nagar Extn 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 details.

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

The guideline value is an essential factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the agreed sale price. This ensures that the government collects the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value for Saraswathi Nagar Andal Nagar Extn?

The current guideline value for Saraswathi Nagar Andal Nagar Extn is Rs 3,300 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision for Saraswathi Nagar Andal Nagar Extn occurring in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for this street.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Saraswathi Nagar Andal Nagar Extn is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the same value.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Saraswathi Nagar Andal Nagar Extn, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value for Saraswathi Nagar Andal Nagar Extn is above this median at Rs 3,300 per sq.ft.