Guideline Value for Sarathambal Street

Sarathambal Street guideline value

The current guideline value of Sarathambal Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Sarathambal Street has changed

The guideline value for Sarathambal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant decrease of 33%, bringing the value down to Rs 2,345 per sq.ft. The value then increased by 49% in the 2023 revision to Rs 3,500 per sq.ft, and further rose by 10% in the 2024 revision to the current rate of Rs 3,850 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes from the previous revisions indicate a fluctuating trend, with the most recent increase reflecting the current valuation of the street.

Guideline values in Chitlapakkam

Chitlapakkam village features a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sarathambal Street's 2024 guideline value above this median.

• Sarathammal Nagar Ext: Rs 3,850 per sq.ft (2024)
• Saratha Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Sarathampal Street Ext: Rs 3,850 per sq.ft (2024)
• Saratha Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Saraswathi Street: Rs 1,650 per sq.ft (2024)
• Sarmaingala Nagar 1st Santhu: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathambal Street

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

Which Sub Registrar Office covers Sarathambal Street?

The Sub Registrar Office that covers Sarathambal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer is required to pay 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 Sarathambal Street?

The current guideline value of Sarathambal Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty rates for properties in Sarathambal Street?

The stamp duty rate for properties in Sarathambal Street is 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2%.

Which Sub Registrar Office covers Sarathambal Street?

The Sub Registrar Office that covers Sarathambal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Sarathambal Street?

Sarathambal Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.