Guideline Value for Sarathi Nagar East Side (Bus Terminus to SBI Bank)

Sarathi Nagar East Side (Bus Terminus to SBI Bank) guideline value

The current guideline value of Sarathi Nagar East Side (Bus Terminus to SBI Bank) 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 East Side (Bus Terminus to SBI Bank) has changed

The guideline value for Sarathi Nagar East Side has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 5,000 per sq.ft in the 2023 revision, and further increased to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from 2012 to 2024, 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, there are 2,691 streets under the Velacheri SRO with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Sarathi Nagar East Side's current value above this median.

• Sarathi Nagar (Athiyamaan Hospital to Vijaya Nagar Bus Stand): Rs 13,200 per sq.ft (2024)
• Sarathi Nagar Extension 1st Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 3rd 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 East Side (Bus Terminus to SBI Bank)

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, leading to a total of Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sarathi Nagar East Side (Bus Terminus to SBI Bank)?

The Sarathi Nagar East Side (Bus Terminus to SBI Bank) falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar East Side?

The current guideline value of Sarathi Nagar East Side (Bus Terminus to SBI Bank) 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 this area?

Sarathi Nagar East Side is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the registration office for this property?

The registration office for Sarathi Nagar East Side 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 this area?

Stamp duty is calculated based on 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 at the rate of 7%.