Guideline Value for Saraswathi Nagar East 1st Street

Saraswathi Nagar East 1st Street guideline value

The current guideline value for Saraswathi Nagar East 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Saraswathi Nagar East 1st Street has changed

According to the register, there are no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar East 1st Street. The only available figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

Since there are no previous figures recorded for this street, there have been no changes in the guideline value over the years. The current value reflects the first recorded figure 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 for Saraswathi Nagar East 1st Street is above this median.

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Saraswathi Nagar East 1st Street?

The Saraswathi Nagar East 1st 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 plays a crucial role during property registration in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Saraswathi Nagar East 1st Street?

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

What are the previous guideline values for this street?

The register has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar East 1st Street. The only available figure is from the 2024 revision.

How does the guideline value compare to other streets in Madipakkam-1?

The guideline value for Saraswathi Nagar East 1st Street is Rs 3,300 per sq.ft, which is above the median value of Rs 2,750 per sq.ft in Madipakkam-1.

What fees are associated with buying property in this area?

When purchasing property in Saraswathi Nagar East 1st Street, stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

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

The Velacheri Sub Registrar Office covers Saraswathi Nagar East 1st Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.