Guideline Value for Sarathi Nagar Extn

Sarathi Nagar Extn guideline value

The current guideline value of Sarathi Nagar Extn is Rs 5,500 per sq.ft, effective from 1 July 2024. This area 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 Extn has changed

Over the years, the guideline value of Sarathi Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 to 2024 revisions.

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, with a median value of Rs 4,400 per sq.ft. Sarathi Nagar Extn's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

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

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. 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 information.

Which Sub Registrar Office covers Sarathi Nagar Extn?

The Sub Registrar Office that covers Sarathi Nagar Extn 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 property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will charge stamp duty based on the higher of the guideline value or the sale price.

During the registration process, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the guideline value to understand the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Extn?

The current guideline value of Sarathi Nagar Extn 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 increased to Rs 5,000 in 2023, and is currently Rs 5,500 as of 2024.

What are the stamp duty and registration fees for properties in Sarathi Nagar Extn?

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 registrations in Sarathi Nagar Extn?

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

How is the guideline value determined in Velachery?

The guideline value in Velachery is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It serves as a benchmark for property transactions in the area.