Guideline Value for Sarathy Nagar 4th Street, Lakshmipuram (Ward-26)

Sarathy Nagar 4th Street, Lakshmipuram (Ward-26) guideline value

The current guideline value of Sarathy Nagar 4th Street, Lakshmipuram (Ward-26) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Sarathy Nagar 4th Street, Lakshmipuram (Ward-26) has changed

The guideline value for Sarathy Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This marked a significant decline of 33%. However, the most recent revision in 2024 saw the guideline value increase to Rs 2,200 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

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 as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, positioning Sarathy Nagar 4th Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Sarathy Nagar 4th Street, Lakshmipuram (Ward-26)

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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sarathy Nagar 4th Street, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Sarathy Nagar 4th Street, 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 is a critical factor when registering property transactions in Madhavaram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both buyers and sellers are aware of their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Sarathy Nagar 4th Street?

The current guideline value of Sarathy Nagar 4th Street, Lakshmipuram (Ward-26) 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, and then increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the land classification of Sarathy Nagar 4th Street?

Sarathy Nagar 4th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sarathy Nagar 4th Street?

The Madhavaram Sub Registrar Office covers Sarathy Nagar 4th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.