Guideline Value for SARATHI 1 TO 3 STREETS

Sarathi 1 To 3 Streets guideline value

The current guideline value for Sarathi 1 To 3 Streets in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Sarathi 1 To 3 Streets has changed

The guideline value for Sarathi 1 To 3 Streets has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,160 per sq.ft in the 2024 revision, which is an 8% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is equal to the current figure for Sarathi 1 To 3 Streets.

• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Street: Rs 2,160 per sq.ft (2024)
• Sankar Street: Rs 2,200 per sq.ft (2024)
• Sambandam Street: Rs 2,420 per sq.ft (2024)
• Senthil Nagar: Rs 2,750 per sq.ft (2024)
• Royapettai Odai 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi 1 To 3 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathi 1 To 3 Streets?

The Sarathi 1 To 3 Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Nemilicherry. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This means that the sale price cannot be lower than the guideline value, providing a standardized measure for property transactions in the area.

Frequently asked questions

What is the current guideline value for Sarathi 1 To 3 Streets?

The current guideline value for Sarathi 1 To 3 Streets is Rs 2,160 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 increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Sarathi 1 To 3 Streets?

Sarathi 1 To 3 Streets is classified as Residential Class II Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Sarathi 1 To 3 Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,51,200 at 7%.