Guideline Value for Saratha Nagar

Saratha Nagar guideline value

The current guideline value of Saratha Nagar, located in Virugambakkam village, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Saratha Nagar has changed

The guideline value of Saratha Nagar has seen significant changes over the years. In 2002, the value was Rs 298 per sq.ft, which increased to Rs 330 per sq.ft in 2003. The value then rose sharply to Rs 1,100 per sq.ft in 2007, marking an increase of 233%. Following that, the value jumped to Rs 4,000 per sq.ft in 2012, a substantial increase of 264%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then climbed to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1377%. The register has no figures for the years not mentioned above.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Saratha Nagar.

• Saratha Nagar Extnension: Rs 4,400 per sq.ft (2024)
• Sathik Baha Sheikh Abdulla Nagar 3 rd Cross Street: Rs 2,750 per sq.ft (2024)
• Sathik Basha Sheikh Abdullah Nagar 1 st Cross Street: Rs 2,750 per sq.ft (2024)
• Santhanam Street: Rs 3,300 per sq.ft (2024)
• Sanmugam Street: Rs 3,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Saratha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saratha Nagar?

The Saratha Nagar area is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is bought or sold, the guideline value is considered to ensure that the transaction is recorded accurately. It serves as a benchmark for the value of properties in the area, helping to maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Saratha Nagar?

The current guideline value of Saratha Nagar is Rs 4,400 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 298 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1377% over this period.

What is the land classification of Saratha Nagar?

Saratha Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What is the stamp duty rate in Saratha Nagar?

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

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.