Guideline Value for Sarathi Nagar 6th Street

Sarathi Nagar 6th Street guideline value

The current guideline value of Sarathi Nagar 6th 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 6th Street has changed

The guideline value for Sarathi Nagar 6th Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery village, there are a total of 2,691 streets under the Velacheri SRO that have 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, making the guideline value for Sarathi Nagar 6th Street above this median.

• Sarathi Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 5th St Extn: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand): Rs 13,200 per sq.ft (2024)
• Sarathi Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar East Side (Bus Terminus to SBI Bank): 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 6th 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, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sarathi Nagar 6th Street?

The Sub Registrar Office that covers Sarathi Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to calculate the stamp duty and registration fees that are payable when buying or selling a property.

When a property is registered, the guideline value is often considered to ensure that the transaction reflects a fair valuation. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sarathi Nagar 6th Street?

The current guideline value of Sarathi Nagar 6th 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 2023 to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for Sarathi Nagar 6th Street?

Sarathi Nagar 6th Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Sarathi Nagar 6th Street?

The Sub Registrar Office for Sarathi Nagar 6th 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 6th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 5,500 per sq.ft would incur a total guideline value of Rs 55,00,000, leading to a stamp duty of Rs 3,85,000.