Guideline Value for Sarathi Nagar

Sarathi Nagar guideline value

The current guideline value of Sarathi Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sarathi Nagar has changed

In the 2012 revision, the guideline value for Sarathi Nagar was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value for Sarathi Nagar has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision. The median guideline value in the area is Rs 1,600 per sq.ft, placing Sarathi Nagar's current value above that median.

• Sarathi Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sarathi Nagar (Maragathammal Avenue): Rs 2,200 per sq.ft (2024)
• Sarathi Nagar (Raja Avenue): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street (Ward 26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd St., Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd St, Lakshmipuram (Ward-26): Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that 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?

The Sub Registrar Office that covers Sarathi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sarathi Nagar?

The current guideline value of Sarathi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has remained at Rs 2,000 per sq.ft until the 2024 revision, which increased it to Rs 2,200 per sq.ft. This represents a 10% increase from the previous year.

What is the land classification of Sarathi Nagar?

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Sarathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.