Guideline Value for Sarathi Nagar Extn 5th Street

Sarathi Nagar Extn 5th Street guideline value

The current guideline value of Sarathi Nagar Extn 5th 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Sarathi Nagar Extn 5th Street has changed

Over the years, the guideline value of Sarathi Nagar Extn 5th Street has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 1,800 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 178%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, representing a 49% increase. Most recently, in 2024, the guideline value rose to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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 is Rs 4,400 per sq.ft, placing Sarathi Nagar Extn 5th Street's 2024 value above this median.

• Sarathi Nagar Extn: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 4th Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 3rd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Sarathi Nagar Extension 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar Extn 5th 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, bringing the total fees together to 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.

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

Which Sub Registrar Office covers Sarathi Nagar Extn 5th Street?

The Sub Registrar Office that covers Sarathi Nagar Extn 5th 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 information.

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

The guideline value is a crucial factor when registering a property in Velachery. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and reflects the value set by the government for that area.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Extn 5th Street?

The current guideline value of Sarathi Nagar Extn 5th 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 significantly from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in Velachery?

The Velacheri Sub Registrar Office handles property registrations in Velachery, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sarathi Nagar Extn 5th Street?

Sarathi Nagar Extn 5th Street falls under the Residential Class I Type - III land classification, as per the guidelines set by the local authorities.