Guideline Value for SARATHY STREET

Sarathy Street guideline value

The current guideline value of Sarathy Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and the land classification is Mixed Special Type - I.

How the guideline value of Sarathy Street has changed

Over the years, the guideline value of Sarathy Street has seen significant changes. The earliest recorded value in the register is from 2002, which was Rs 1,039 per sq.ft. This value increased to Rs 1,154 per sq.ft in 2003, marking an 11% rise. The following revisions showed a substantial increase, with the value reaching Rs 2,000 per sq.ft in 2007, reflecting a 73% change. By 2012, the guideline value was Rs 13,000 per sq.ft, which was a remarkable increase of 550% from 2007. However, this value dropped to Rs 8,710 per sq.ft in 2017, showing a decrease of 33%.

In the subsequent revisions, the guideline value rose again, reaching Rs 13,000 per sq.ft in 2023, and then increased by 10% to the current value of Rs 14,300 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1276%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Sarathy Street's current guideline value is above this median.

• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Saradambal Street: Rs 11,000 per sq.ft (2024)
• Sathiyamoorthy Nagar: Rs 5,500 per sq.ft (2024)
• Sambandam Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarathy Street?

The Sub Registrar Office that covers Sarathy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sarathy Street?

The current guideline value of Sarathy Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,039 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, which is an overall increase of 1276%.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, while Sarathy Street's current value is above this median.

What are the stamp duty and registration fees for property in Sarathy Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 12,87,000 based on the current guideline value.

Which office handles registrations for Sarathy Street?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Sarathy Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.