Guideline Value for Saraswathi Nagar, Lakshmipuram (Ward-26)

Saraswathi Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Saraswathi Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I under the Madhavaram SRO.

How the guideline value of Saraswathi Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for Saraswathi Nagar, Lakshmipuram has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 figure of Rs 1,200 per sq.ft. Prior to that, the 2012 revision also recorded Rs 1,200 per sq.ft, indicating no change from 2012 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, there has been an 8% increase in the guideline value. The consistent figure of Rs 1,200 per sq.ft from 2012 to 2023 reflects stability in the value during that period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Saraswathi Nagar, Lakshmipuram below that median.

• Saraswathi Nagar 4th st (Ward No.26): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 3rd st (Ward No.26): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 3rd st Extn. (Ward No.26): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 2nd st (Ward No.26): Rs 1,300 per sq.ft (2024)
• Saraswathi Nagar 1st st (Ward No.26): Rs 1,300 per sq.ft (2024)
• Sarathi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathi Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Saraswathi Nagar, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Saraswathi Nagar, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value plays a crucial role in property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Saraswathi Nagar, Lakshmipuram (Ward-26)?

The current guideline value of Saraswathi Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value has increased by 8% from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. There was no change from 2012 to 2023, maintaining a figure of Rs 1,200 per sq.ft during that period.

What is the land classification for this area?

Saraswathi Nagar, Lakshmipuram (Ward-26) is classified as Residential Class III Type - I under the Madhavaram SRO.

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

The Sub Registrar Office for Saraswathi Nagar, Lakshmipuram (Ward-26) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.