Guideline Value for Sri Saraswathi Nagar

Sri Saraswathi Nagar guideline value

The current guideline value of Sri Saraswathi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Sirunallur village under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Saraswathi Nagar has changed

Over the years, the guideline value of Sri Saraswathi Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 40 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The subsequent revision in 2023 maintained the value at Rs 200 per sq.ft, and the latest revision in 2024 has also kept it at Rs 200 per sq.ft, showing no change from the previous year.

The overall change from the 2007 revision to the current 2024 guideline value reflects a substantial increase of 400%. Notably, there are no figures recorded for the years 2002 and 2003 for this street in the register.

Guideline values in Sirunallur

In Sirunallur village, there are 16 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 175 per sq.ft. Sri Saraswathi Nagar's current guideline value is above this median.

• Sri Venkateshwara Nagar: Rs 102 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 150 per sq.ft (2024)
• Srm Nagar: Rs 120 per sq.ft (2024)
• S.R.S.Nagar: Rs 102 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saraswathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Saraswathi Nagar?

The Sub Registrar Office that covers Sri Saraswathi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sirunallur. It is the basis on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sri Saraswathi Nagar?

The current guideline value of Sri Saraswathi Nagar is Rs 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 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Sri Saraswathi Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles registrations for Sri Saraswathi Nagar?

The Madurandakam Sub Registrar Office handles registrations for Sri Saraswathi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Sri Saraswathi Nagar?

Sri Saraswathi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.