Guideline Value for Sarathi Nagar 5th St Extn

Sarathi Nagar 5th St Extn guideline value

The current guideline value of Sarathi Nagar 5th St Extn is Rs 5,500 per sq.ft, effective from 1 July 2024. This property 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 5th St Extn has changed

The guideline value for Sarathi Nagar 5th St Extn has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017. In 2023, the value increased to Rs 5,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 5,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value rose by 10% from 2023 to 2024. Overall, comparing the years from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 4,400 per sq.ft, which indicates that the guideline value for Sarathi Nagar 5th St Extn is above the median.

• Sarathi Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar 5th St Extn

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, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would amount to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sarathi Nagar 5th St Extn?

The Sub Registrar Office that covers Sarathi Nagar 5th St Extn is located at Velacheri Sub Registrar Office, 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 critical factor when registering property transactions in Velachery. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must ensure that the transaction value meets or exceeds the guideline value to comply with legal requirements.

When a property is sold, the guideline value helps determine the official value of the property for tax purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sarathi Nagar 5th St Extn?

The current guideline value of Sarathi Nagar 5th St Extn 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 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Sarathi Nagar 5th St Extn?

Sarathi Nagar 5th St Extn is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Sarathi Nagar 5th St Extn is located at Velacheri Sub Registrar Office, No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sarathi Nagar 5th St Extn?

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 a rate of 7%.