Guideline Value for SARATHY NAGAR PHASE-I, PHASE-II

Sarathy Nagar Phase-I, Phase-II guideline value

The current guideline value of Sarathy Nagar Phase-I and Phase-II is Rs 900 per sq.ft. This area is located in Kannivakkam village and falls under the Thiruporur Sub Registrar Office (SRO). The land classification for this region is Residential Class V Type - I.

How the guideline value of Sarathy Nagar Phase-I, Phase-II has changed

The guideline value for Sarathy Nagar Phase-I and Phase-II has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 900 per sq.ft, which is the same as the 2023 revision. In contrast, the 2017 revision recorded a value of Rs 603 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 900 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been no change in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The historical revisions illustrate the fluctuations in guideline values, but the current rate remains consistent with the previous two years.

Guideline values in Kannivakkam

Kannivakkam village has a total of 32 streets under the Thiruporur SRO with a 2024 guideline value range from Rs 450 to Rs 2,389 per sq.ft. The median guideline value in this area is Rs 1,050 per sq.ft, placing Sarathy Nagar Phase-I and Phase-II's 2024 figure below that median.

• Saraswathi Avenue: Rs 900 per sq.ft (2024)
• Sanjai Nagar Phase - I: Rs 1,600 per sq.ft (2024)
• Selli Amman Avenue: Rs 1,800 per sq.ft (2024)
• Sakthi Nagar: Rs 500 per sq.ft (2024)
• Sai Enclave: Rs 1,493 per sq.ft (2024)
• Sai Chitra Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathy Nagar Phase-I, Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty is calculated at 7%, resulting in Rs 63,000, while the registration fee at 2% totals Rs 18,000. Together, the total cost for stamp duty and registration fee would be Rs 81,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarathy Nagar Phase-I, Phase-II?

The Sarathy Nagar Phase-I and Phase-II properties are covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kannivakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

It is important for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property transactions. Proper understanding of these values ensures compliance with local regulations and helps in planning financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of Sarathy Nagar Phase-I and Phase-II?

The current guideline value of Sarathy Nagar Phase-I and Phase-II is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen fluctuations, with the most recent values being Rs 900 per sq.ft in both 2023 and 2024. The 2017 revision was Rs 603 per sq.ft, and the 2012 revision was also Rs 900 per sq.ft.

What is the land classification for Sarathy Nagar Phase-I and Phase-II?

The land classification for Sarathy Nagar Phase-I and Phase-II is Residential Class V Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Sarathy Nagar?

For a property valued at Rs 9,00,000, the stamp duty is Rs 63,000 and the registration fee is Rs 18,000, totaling Rs 81,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Sarathy Nagar Phase-I and Phase-II?

The Thiruporur Sub Registrar Office handles property registrations for Sarathy Nagar Phase-I and Phase-II, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.