Guideline Value for Sachidananada Nagar Main Salai

Sachidananada Nagar Main Salai guideline value

The current guideline value of Sachidananada Nagar Main Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Sachidananada Nagar Main Salai has changed

The guideline value for Sachidananada Nagar Main Salai has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, it then dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a substantial increase to Rs 3,500 per sq.ft in 2023, followed by a further rise to Rs 3,850 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 157% over this period. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the guideline value of Sachidananada Nagar Main Salai below this median.

• Sachidananada Nagar Datha Street: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Anaga Street: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar Extn 2nd Street: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar Extn 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sachidananada Nagar Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sachidananada Nagar Main Salai?

The Sachidananada Nagar Main Salai falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Sachidananada Nagar Main Salai?

The current guideline value of Sachidananada Nagar Main Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and increases in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Sachidananada Nagar Main Salai?

The Velacheri Sub Registrar Office handles property registrations for Sachidananada Nagar Main Salai, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Sachidananada Nagar Main Salai?

Sachidananada Nagar Main Salai is classified as Residential Class II Type - III according to the guideline value register.