Guideline Value for Sarath Nagar

Sarath Nagar guideline value

The current guideline value of Sarath Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sarath Nagar has changed

Over the years, the guideline value for Sarath Nagar has seen significant changes. The register reflects a value of Rs 61 per sq.ft in 2002, which increased to Rs 86 per sq.ft in 2003, marking a 41% rise. The value then surged to Rs 300 per sq.ft in 2007, showing a remarkable increase of 249%. By 2012, the value was Rs 1,800 per sq.ft, which represented a 500% increase from the previous revision. However, there was a decline to Rs 1,206 per sq.ft in 2017, a decrease of 33% from 2012. The value rose again to Rs 1,800 per sq.ft in 2023, followed by the current value of Rs 1,960 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3113%. There are no figures available for any revisions for this street prior to 2002.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Sarath Nagar is below this median.

• Sampath Nagar: Rs 3,300 per sq.ft (2024)
• Sakthi Nagar: Rs 1,960 per sq.ft (2024)
• Selvaraj Nagar: Rs 2,750 per sq.ft (2024)
• Sai Saminatah Residency: Rs 2,750 per sq.ft (2024)
• Senthil Nagar: Rs 1,960 per sq.ft (2024)
• Rose Garden: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sarath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, making the total cost for these fees Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarath Nagar?

The Sub Registrar Office that covers Sarath Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarath Nagar?

The current guideline value of Sarath Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 61 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, reflecting an overall increase of 3113% over the years.

What is the land classification for Sarath Nagar?

Sarath Nagar is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for property in Sarath Nagar?

For a property valued at Rs 1,960 per sq.ft, the stamp duty is calculated at 7% and the registration fee at 2%, leading to a total fee of Rs 1,76,400 for a 1,000 sq.ft plot.

Where is the Sub Registrar Office for Sarath Nagar located?

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