Guideline Value for Sarathi Nagar 4th Cross Street

Sarathi Nagar 4th Cross Street guideline value

The current guideline value of Sarathi Nagar 4th Cross 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 4th Cross Street has changed

Looking at the revisions, the guideline value for Sarathi Nagar 4th Cross Street was Rs 5,000 per sq.ft in 2012, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 5,000 per sq.ft, but in the 2024 revision, it increased to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Velachery

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost together to Rs 4,95,000. 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 4th Cross Street?

The Sub Registrar Office that covers Sarathi Nagar 4th 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 in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to consider this value during transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar 4th Cross Street?

The current guideline value of Sarathi Nagar 4th Cross 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 changed from Rs 5,000 per sq.ft in 2012 to Rs 5,000 per sq.ft in 2023, and then increased to Rs 5,500 per sq.ft in 2024, marking a 10% increase from 2023.

What is the land classification of Sarathi Nagar 4th Cross Street?

The land classification for Sarathi Nagar 4th Cross Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sarathi Nagar 4th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Sarathi Nagar 4th Cross Street?

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