Guideline Value for Sarathi Nagar Extension 4th Street

Sarathi Nagar Extension 4th Street guideline value

The current guideline value of Sarathi Nagar Extension 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street 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 Extension 4th Street has changed

The guideline value for Sarathi Nagar Extension 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then decreased 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 has raised it 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 increased by 10%. 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that Sarathi Nagar Extension 4th Street's 2024 figure is above this median.

• Sarathi Nagar Extension 3rd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extn: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extn 5th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 1st Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar Extension 4th 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, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. The duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sarathi Nagar Extension 4th Street?

The Sub Registrar Office covering Sarathi Nagar Extension 4th Street is 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall costs involved in the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Extension 4th Street?

The current guideline value of Sarathi Nagar Extension 4th 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, which is a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Sarathi Nagar Extension 4th Street?

Sarathi Nagar Extension 4th Street is classified as Residential Class I Type - III. This classification indicates the type of development and usage permitted in the area.

Where can I find the registration office for Sarathi Nagar Extension 4th Street?

The registration office for Sarathi Nagar Extension 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Velachery is 7%. This is applied to the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.