Guideline Value for Sarathi Nagar 3rd Street

Sarathi Nagar 3rd Street guideline value

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

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

The guideline value for Sarathi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded value was Rs 542 per sq.ft in 2002. This increased to Rs 608 per sq.ft in 2003, marking a change of +12%. Following this, the value saw a significant rise to Rs 5,000 per sq.ft in 2012, which is a remarkable increase of +722% from the 2003 figure. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 5,500 per sq.ft, reflecting a change of +10% from the 2012 value.

It is important to note that there are no figures available for the years 2007, 2017, and 2023 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry 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 3rd Street's 2024 figure above that median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sarathi Nagar 3rd Street?

The Sarathi Nagar 3rd Street 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 details.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property in this area, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in property transactions and helps maintain a standard valuation across different areas.

Frequently asked questions

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

The current guideline value of Sarathi Nagar 3rd Street is Rs 5,500 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 significant increase from Rs 608 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, an overall increase of +915% since 2002.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Sarathi Nagar 3rd Street?

The Velacheri Sub Registrar Office covers Sarathi Nagar 3rd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about the guideline values in Velachery?

More information about the guideline values in Velachery can be found in the Registration Department's guideline value register (TNReginet), which details the values for various streets in the area.