Guideline Value for Saraswathi Nagar Nagar West 3rd Street

Saraswathi Nagar Nagar West 3rd Street guideline value

The current guideline value of Saraswathi Nagar Nagar West 3rd 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 Nagar West 3rd Street has changed

The guideline value register shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar Nagar West 3rd Street. The only recorded figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

As such, there are no changes to report between revisions, as the only available figure is the current one from 2024.

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 of Saraswathi Nagar Nagar West 3rd Street is above this median.

• Saraswathi Nagar Main Road: 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 Nagar West 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathi Nagar Nagar West 3rd Street?

The Saraswathi Nagar Nagar West 3rd 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 is a critical factor when registering property transactions in Madipakkam-1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a standard value recognized by the authorities.

When buying or selling property, the guideline value ensures transparency and consistency in property transactions. It is essential for both buyers and sellers to understand this value as it impacts the overall costs associated with property registration.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar Nagar West 3rd Street?

The current guideline value of Saraswathi Nagar Nagar West 3rd 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 recorded figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for this street. The only available figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

What is the land classification for this area?

The land classification for Saraswathi Nagar Nagar West 3rd Street is Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

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

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