Guideline Value for Sarathi Nagar

Sarathi Nagar guideline value

The current guideline value of Sarathi Nagar, located in Gooduvancheri village, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Sarathi Nagar has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This value remained unchanged at Rs 1,200 per sq.ft in the 2023 and 2024 revisions, indicating a significant increase of 49% from 2017 to 2023 and a total increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there was no change in the guideline value, maintaining the rate at Rs 1,200 per sq.ft. The overall change from the 2017 revision to the current 2024 revision reflects a consistent valuation of the property in Sarathi Nagar.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Sarathi Nagar's 2024 guideline value is below this median.

• S.C.C. Anthony Pillai Nagar: Rs 1,500 per sq.ft (2024)
• S.C.C. Anthony Pillai Nagar-IV: Rs 1,500 per sq.ft (2024)
• Sengutuvan Street: Rs 1,200 per sq.ft (2024)
• Shankar Ganesh Nagar: Rs 1,500 per sq.ft (2024)
• R.V. Nagar: Rs 1,500 per sq.ft (2024)
• Shunmugam Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for registration to Rs 1,08,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathi Nagar?

The Sarathi Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Gooduvancheri, as it determines the minimum price at which a property can be registered. Buyers and sellers need to consider this value to ensure compliance with the regulations set by the Registration Department.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sarathi Nagar?

The current guideline value of Sarathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024, while it increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Sarathi Nagar?

Sarathi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 12,00,000, the total cost for registration would be Rs 1,08,000.

Which office handles property registrations for Sarathi Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Sarathi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.