Guideline Value for Sarathi Nagar 3rd Cross Street

Sarathi Nagar 3rd Cross Street guideline value

The current guideline value of Sarathi Nagar 3rd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sarathi Nagar 3rd Cross Street has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, there was a significant increase of 64%, bringing the current value to Rs 5,500 per sq.ft. The overall change from 2012 to 2024 is an increase of 10%.

It is important to note that there are no figures recorded for the years 2002, 2003, 2007, and 2023 for this street. The changes in the guideline value reflect the revisions made over the years, with the most recent being the 2024 revision.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that Sarathi Nagar 3rd Cross Street's 2024 figure is above this median.

• Sarathi Nagar 2nd Street Extn: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 4th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Sarathi Nagar 3rd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions as determined by the local authorities. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar 3rd Cross Street?

The current guideline value of Sarathi Nagar 3rd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2012 revision of Rs 5,000 per sq.ft to the 2017 revision of Rs 3,350 per sq.ft, there was a decrease. However, from 2017 to the 2024 revision, the value increased by 64% to reach Rs 5,500 per sq.ft.

What is the land classification of Sarathi Nagar 3rd Cross Street?

Sarathi Nagar 3rd Cross Street is classified as Residential Class I Type - III.

Where can I find the registration office for Sarathi Nagar 3rd Cross Street?

The registration office for Sarathi Nagar 3rd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sarathi Nagar 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.