Guideline Value for Sarma layout Main Road

Sarma layout Main Road guideline value

The current guideline value of Sarma layout Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sarma layout Main Road has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. With the latest revision in 2024, the value has increased to Rs 1,650 per sq.ft, marking a significant change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The 2024 guideline value represents a notable increase from the previous revision in 2017, reflecting the ongoing adjustments in property values within the region. The current rate of Rs 1,650 per sq.ft is below the median value of Rs 2,750 per sq.ft for other streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value stands at Rs 2,750 per sq.ft. The guideline value of Sarma layout Main Road is below this median.

• Saroj Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar: Rs 2,200 per sq.ft (2024)
• Saraswathi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sarma layout Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, together totaling Rs 1,48,500. 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 based on your property details.

Which Sub Registrar Office covers Sarma layout Main Road?

The Sarma layout Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the sale.

Frequently asked questions

What is the current guideline value of Sarma layout Main Road?

The current guideline value of Sarma layout Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft, which is a change of +64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft for the year 2024, with Sarma layout Main Road's value being below this median.

What are the stamp duty and registration fees for a property in Sarma layout Main Road?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Sarma layout Main Road?

The Velacheri Sub Registrar Office handles property registrations for Sarma layout Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.