Guideline Value for Sarathi Nagar (Maragathammal Avenue)

Sarathi Nagar (Maragathammal Avenue) guideline value

The current guideline value of Sarathi Nagar (Maragathammal Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Sarathi Nagar (Maragathammal Avenue) has changed

The guideline value for Sarathi Nagar (Maragathammal Avenue) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 2,000 per sq.ft, and the latest revision in 2024 has further raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median value for these streets is Rs 1,600 per sq.ft, placing Sarathi Nagar (Maragathammal Avenue) above this median.

• Sarathi Nagar (Raja Avenue): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street (Ward 26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd St., Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd St, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 4th Street, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathi Nagar Annexe: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar (Maragathammal Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Sarathi Nagar (Maragathammal Avenue)?

The Sarathi Nagar (Maragathammal Avenue) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Madhavaram, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate stamp duty and registration fees, ensuring that the transaction is legally recognized and documented.

Both buyers and sellers should be aware that the guideline value serves as a benchmark for property transactions. It is essential to consult the latest figures to understand the financial implications of any property deal within the area.

Frequently asked questions

What is the current guideline value of Sarathi Nagar (Maragathammal Avenue)?

The current guideline value of Sarathi Nagar (Maragathammal Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Sarathi Nagar (Maragathammal Avenue)?

Sarathi Nagar (Maragathammal Avenue) is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Sarathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.