Guideline Value for Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand)

Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) guideline value

The current guideline value for Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This figure decreased to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 13,200 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) above this median.

• Sarathi Nagar East Side (Bus Terminus to SBI Bank): Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 1st Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 5th St Extn: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand)?

The Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented accurately and fairly. It helps in maintaining transparency in property dealings and assists in the assessment of taxes related to property transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar?

The current guideline value of Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 12,000 per sq.ft to Rs 13,200 per sq.ft in 2024, an overall increase of 10%. The value decreased to Rs 8,040 per sq.ft in 2017 but increased significantly by 64% to the current rate.

What is the classification of Sarathi Nagar?

Sarathi Nagar is classified as Commercial Class I Type - I. This classification indicates the type of land use permitted in the area.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the Sarathi Nagar area.

How is the stamp duty calculated for properties in Sarathi Nagar?

Stamp duty for properties in Sarathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, ensuring that the property transaction is legally recorded.