Guideline Value for Sarathi Nagar Extension 3rd Street

Sarathi Nagar Extension 3rd Street guideline value

The current guideline value of Sarathi Nagar Extension 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Sarathi Nagar Extension 3rd Street has changed

The guideline value for Sarathi Nagar Extension 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 5,000 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 5,500 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with 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 Extension 3rd Street above this median at Rs 5,500 per sq.ft.

• Sarathi Nagar Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 4th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 1st Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extn: 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 Extn 5th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar Extension 3rd Street

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, totaling Rs 4,95,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sarathi Nagar Extension 3rd Street?

The Sarathi Nagar Extension 3rd Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you register a property, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Extension 3rd Street?

The current guideline value of Sarathi Nagar Extension 3rd 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. Previously, 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 Extension 3rd Street?

Sarathi Nagar Extension 3rd Street is classified as Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office covering Sarathi Nagar Extension 3rd 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 for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.