Guideline Value for Saraswathi Nagar Main Road

Saraswathi Nagar Main Road guideline value

The current guideline value of Saraswathi Nagar Main Road 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 Main Road has changed

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

There have been no changes between the revisions listed above. The 2024 revision is the only figure available for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, 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 Saraswathi Nagar Main Road's 2024 figure above this median.

• Saraswathi Nagar Nagar West 3rd Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar East 7th Street: Rs 3,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Saraswathi Nagar Main Road

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, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saraswathi Nagar Main Road?

The Sub Registrar Office that covers Saraswathi Nagar Main Road 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the taxes collected reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Main Road?

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

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

Other streets in Madipakkam-1 with the same guideline value of Rs 3,300 per sq.ft include Saraswathi Nagar Nagar West 3rd Street, Saraswathi Nagar East 7th Street, Saraswathi Nagar East 6th Street, Saraswathi Nagar East 5th Street, Saraswathi Nagar East 4th Street, and Saraswathi Nagar East 3rd Street.

How is the stamp duty calculated for properties in Saraswathi Nagar Main Road?

Stamp duty for properties in Saraswathi Nagar Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

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. This office handles the registration of properties in the area.

What is the land classification for Saraswathi Nagar Main Road?

The land classification for Saraswathi Nagar Main Road is Residential Class I Type - II. This classification indicates the type of development allowed in the area.