Guideline Value for Saraswathi Nagar West 2nd Street

Saraswathi Nagar West 2nd Street guideline value

The current guideline value of Saraswathi Nagar West 2nd 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 2nd Street has changed

The guideline value register does not provide figures for Saraswathi Nagar West 2nd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 3,300 per sq.ft.

Since there are no previous figures listed for this street, there have been no changes to report between revisions. The current value stands alone as the only registered figure for this location.

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 value is Rs 2,750 per sq.ft, placing the guideline value of Saraswathi Nagar West 2nd Street above this median.

• Saraswathi Nagar West 1st 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 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 2nd 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be 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.

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

Which Sub Registrar Office covers Saraswathi Nagar West 2nd Street?

The Sub Registrar Office that covers Saraswathi Nagar West 2nd 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the value of the property in the eyes of the law. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar West 2nd Street?

The current guideline value of Saraswathi Nagar West 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

Are there any previous guideline values for this street?

No, the guideline value register does not provide figures for Saraswathi Nagar West 2nd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What is the classification of Saraswathi Nagar West 2nd Street?

Saraswathi Nagar West 2nd Street is classified as Residential Class I Type - II under the Velacheri SRO.

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 Sub Registrar Office located?

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