Guideline Value for Sarathi Nagar 4th Street

Sarathi Nagar 4th Street guideline value

The current guideline value of Sarathi Nagar 4th 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Sarathi Nagar 4th Street has changed

The guideline value for Sarathi Nagar 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 542 per sq.ft. This increased significantly to Rs 608 per sq.ft in 2003, marking a 12% rise. However, there is no figure available for the year 2007. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2012, followed by a decrease of 33% to Rs 3,350 per sq.ft in 2017. The next revision in 2023 brought the value back up to Rs 5,000 per sq.ft, and finally, the latest revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 915%. The changes between the revisions are as follows: from 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it rose by 49%. The most significant increase occurred from 2003 to 2012, with a rise of 722%.

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 value is Rs 4,400 per sq.ft, placing Sarathi Nagar 4th Street's 2024 guideline value above this median.

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

Stamp duty and registration fee for property in Sarathi Nagar 4th 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 to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sarathi Nagar 4th Street?

The Sub Registrar Office that covers Sarathi Nagar 4th 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

The guideline value serves as a benchmark for property transactions, and it is essential for both buyers and sellers to be aware of the current rates. This helps in understanding the financial implications of the transaction and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of Sarathi Nagar 4th 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 significantly, with the earliest recorded figure in 2002 being Rs 542 per sq.ft, rising to Rs 5,500 per sq.ft in 2024. The most notable change was a 722% increase from 2003 to 2012.

What is the registration office for Sarathi Nagar 4th Street?

The registration office for Sarathi Nagar 4th 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 in Sarathi Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000.

What are the other streets in Velachery with the same guideline value?

Several other streets in Velachery have the same guideline value of Rs 5,500 per sq.ft for 2024, including Sarathi Nagar 4th Cross Street, Sarathi Nagar 5th Cross Street, and Sarathi Nagar 3rd Street.