Guideline Value for Saraswathi Nagar West 1st Street

Saraswathi Nagar West 1st Street guideline value

The current guideline value of Saraswathi Nagar West 1st 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 West 1st Street has changed

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

Since there are no figures for the previous years, it can be noted that the guideline value has not changed over these revisions, with the latest figure being the only one recorded.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO carrying 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 West 1st Street is above this median.

• Saraswathi Nagar West 2nd Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 4th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar Nagar West 3rd 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 West 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 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, totaling 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.

You can also use our stamp duty and registration fee calculator for more precise calculations.

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

The Saraswathi Nagar West 1st Street falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from stamp duties.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar West 1st Street?

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

What land classification does Saraswathi Nagar West 1st Street fall under?

Saraswathi Nagar West 1st Street is classified as Residential Class I Type - II.

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

There are 1823 streets in Madipakkam-1 under the Velacheri SRO that carry a 2024 guideline value.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

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.