Guideline Value for Sachidanandam Nagar

Sachidanandam Nagar guideline value

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

How the guideline value of Sachidanandam Nagar has changed

The guideline value for Sachidanandam Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This value saw a decrease to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the guideline value has increased by 10%. The changes between revisions are notable: from 2017 to 2023, there was a significant increase of 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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, placing Sachidanandam Nagar's 2024 figure below this median.

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

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, calculated at 7%, would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Therefore, the total cost for these fees 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.

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

Which Sub Registrar Office covers Sachidanandam Nagar?

The Sachidanandam Nagar area falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When purchasing property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sachidanandam Nagar?

The current guideline value of Sachidanandam Nagar 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 seen several changes, from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,850 per sq.ft in 2024.

What is the registration office for Sachidanandam Nagar?

The Velacheri Sub Registrar Office covers Sachidanandam Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates in Sachidanandam Nagar?

The stamp duty rate for properties in Sachidanandam Nagar is 7% of the guideline value or sale price, whichever is higher.

How many streets in Velachery have a guideline value?

There are 2,691 streets in Velachery under the Velacheri SRO that carry a guideline value as of 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft.