Guideline Value for Sarathi Nagar Annexe

Sarathi Nagar Annexe guideline value

The current guideline value of Sarathi Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this location is Residential Class I Type - I.

How the guideline value of Sarathi Nagar Annexe has changed

The guideline value for Sarathi Nagar Annexe has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sarathi Nagar Annexe is above this median.

• Sarathi Nagar (Maragathammal Avenue): Rs 2,200 per sq.ft (2024)
• Sarathi Nagar (Raja Avenue): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street (Ward 26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd St., Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathi Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd St, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Sarathi Nagar Annexe?

The Sub Registrar Office that covers Sarathi Nagar Annexe is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the guideline values in their area to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Annexe?

The current guideline value of Sarathi Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sarathi Nagar Annexe?

Sarathi Nagar Annexe is classified as Residential Class I Type - I, which indicates the type of residential development permitted in the area.

Where can I find the Sub Registrar Office for Sarathi Nagar Annexe?

The Sub Registrar Office for Sarathi Nagar Annexe is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sarathi Nagar Annexe?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.