Guideline Value for Saraswathi Nagar West 5th Street

Saraswathi Nagar West 5th Street guideline value

The current guideline value of Saraswathi Nagar West 5th 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, and is classified as Residential Class I Type - II.

How the guideline value of Saraswathi Nagar West 5th Street has changed

The register has no figure for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Saraswathi Nagar West 5th Street. The most recent revision is from 2024, which sets the guideline value at Rs 3,300 per sq.ft.

There have been no changes in the guideline value between the revisions listed above. The 2024 revision marks the first recorded guideline value for this street.

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 of Rs 2,750 per sq.ft. The guideline value for Saraswathi Nagar West 5th Street is above this median.

• Saraswathi Nagar West 4th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 2nd Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 1st 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 5th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. 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 West 5th Street?

The Sub Registrar Office that covers Saraswathi Nagar West 5th 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 in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or bought.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar West 5th Street?

The current guideline value of Saraswathi Nagar West 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Saraswathi Nagar West 5th Street has only been recorded in the 2024 revision, which is Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What is the land classification for this street?

Saraswathi Nagar West 5th Street is classified as Residential Class I Type - II. This classification is important for determining the usage and potential for development of the land.

What are the stamp duty rates applicable?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% that applies to the guideline value.

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

The Sub Registrar Office for Saraswathi Nagar West 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles all registrations for properties in the area.