Guideline Value for Sarathammal Nagar Ext

Sarathammal Nagar Ext guideline value

The current guideline value of Sarathammal Nagar Ext is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - II.

How the guideline value of Sarathammal Nagar Ext has changed

The guideline value for Sarathammal Nagar Ext has seen several revisions over the years. In 2012, the guideline value was set at Rs 3,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 2,345 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 3,500 per sq.ft. The latest revision in 2024 has further increased the value to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

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 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam consists 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 guideline value in this area is Rs 1,650 per sq.ft, placing Sarathammal Nagar Ext above this median.

• Sarathambal Street: Rs 3,850 per sq.ft (2024)
• Sarathampal Street Ext: Rs 3,850 per sq.ft (2024)
• Saratha Avenue 4th Street: Rs 1,650 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 Sarathammal Nagar Ext

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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarathammal Nagar Ext?

The Sarathammal Nagar Ext area is covered by 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 further assistance.

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

The guideline value is an essential factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Chitlapakkam, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both the buyer and seller are adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sarathammal Nagar Ext?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Sarathammal Nagar Ext?

Sarathammal Nagar Ext is classified as Residential Special Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,46,500.

Which office handles property registration for Sarathammal Nagar Ext?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registration in Sarathammal Nagar Ext, located at No.26, Mes Road, East Tambaram, Chennai-600059.