Guideline Value for Sarathi Nagar Main Road

Sarathi Nagar Main Road guideline value

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

Over the years, the guideline value of Sarathi Nagar Main Road has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, 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 with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. The guideline value for Sarathi Nagar Main Road is above this median.

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

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, bringing the total to Rs 4,95,000. Please 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 details.

Which Sub Registrar Office covers Sarathi Nagar Main Road?

The Sub Registrar Office that covers Sarathi Nagar Main Road 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 an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the appropriate stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty is charged based on the guideline value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sarathi Nagar Main Road?

The current guideline value of Sarathi Nagar Main Road 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 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Sarathi Nagar Main Road?

Sarathi Nagar Main Road falls under the Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for Sarathi Nagar Main Road?

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

How is the stamp duty calculated for properties in Sarathi Nagar Main Road?

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