Guideline Value for Saraswathi Nagar East 7th Street

Saraswathi Nagar East 7th Street guideline value

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

The guideline value register for Saraswathi Nagar East 7th Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 3,300 per sq.ft.

As there are no figures available for the previous years, the only current figure is from the 2024 revision, which reflects the latest valuation for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value 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, placing Saraswathi Nagar East 7th Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Saraswathi Nagar East 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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saraswathi Nagar East 7th Street?

The Sub Registrar Office that covers Saraswathi Nagar East 7th 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a benchmark for the transaction value. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Saraswathi Nagar East 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

What is the land classification for this street?

Saraswathi Nagar East 7th Street is classified as Residential Class I Type - II.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1,823 streets in Madipakkam-1 under the Velacheri SRO that carry a 2024 guideline value.

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.

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.