Guideline Value for Sarathi Nagar (Raja Avenue)

Sarathi Nagar (Raja Avenue) guideline value

The current guideline value for Sarathi Nagar (Raja Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sarathi Nagar (Raja Avenue) has changed

The guideline value for Sarathi Nagar (Raja Avenue) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 2,200 per sq.ft, which is 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 regarding this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making the current value for Sarathi Nagar (Raja Avenue) above that median.

• Sarathi Nagar (Maragathammal Avenue): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street (Ward 26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd St., Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd St, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 4th Street, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar (Raja Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarathi Nagar (Raja Avenue)?

The Sub Registrar Office that covers Sarathi Nagar (Raja Avenue) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for Sarathi Nagar (Raja Avenue)?

The current guideline value for Sarathi Nagar (Raja Avenue) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Sarathi Nagar (Raja Avenue)?

Sarathi Nagar (Raja Avenue) is classified as Residential Class I Type - I. This classification affects the guideline value and potential uses of the land.

Where can I find the Sub Registrar Office for Sarathi Nagar (Raja Avenue)?

The Madhavaram Sub Registrar Office covers Sarathi Nagar (Raja Avenue) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would amount to Rs 1,54,000.