Guideline Value for SARATHA NAGAR

Saratha Nagar guideline value

The current guideline value of Saratha Nagar in Korattur village, under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - III.

How the guideline value of Saratha Nagar has changed

Since the 2002 revision, the guideline value for Saratha Nagar has seen significant changes. In 2002, the guideline value was Rs 78 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a change of +221%. The value then remained at Rs 1,500 per sq.ft from 2012 until the 2023 revision, indicating no change during that period. The 2023 revision saw the value rise to Rs 1,600 per sq.ft, reflecting a +7% increase.

The revisions for the years 2017 and 2003 do not have figures recorded for Saratha Nagar. Overall, from 2002 to 2024, the guideline value has increased by +1951%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Saratha Nagar's 2024 figure below that median.

• Saratha Nagar Extension: Rs 1,600 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,100 per sq.ft (2024)
• Santhosh Nagar Phase II: Rs 2,900 per sq.ft (2024)
• Santhosh Nagar Murugan Koil Street: Rs 2,900 per sq.ft (2024)
• Sastha Nagar: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 1st STREET: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saratha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saratha Nagar?

The Sub Registrar Office that covers Saratha Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Saratha Nagar?

The current guideline value of Saratha Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 78 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of +1951%.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Saratha Nagar Extension at Rs 1,600 per sq.ft, Saraswathi Nagar at Rs 2,100 per sq.ft, and Santhosh Nagar Phase II at Rs 2,900 per sq.ft, among others.

What is the stamp duty and registration fee for a property in Saratha Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Saratha Nagar?

The Villivakkam Sub Registrar Office covers Saratha Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.