Guideline Value for Sarathi Nagar

Sarathi Nagar guideline value

The current guideline value of Sarathi Nagar, located in Pothur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sarathi Nagar has changed

The guideline value for Sarathi Nagar has undergone several revisions over the years. Starting from Rs 21 per sq.ft in 2003, it saw a significant increase to Rs 200 per sq.ft in 2007. The value then rose to Rs 400 per sq.ft in 2012, but decreased to Rs 268 per sq.ft in 2017. Following that, the value jumped to Rs 400 per sq.ft in 2023, and finally reached Rs 440 per sq.ft in the 2024 revision. It is important to note that there is no figure for this street in the 2002 revision.

Between the revisions, there were notable changes. From 2003 to 2007, the value increased by 852%. However, from 2012 to 2017, it decreased by 33%. The most recent change from 2023 to 2024 saw an increase of 10%. Overall, from 2003 to 2024, the guideline value has increased by 1995%.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. Sarathi Nagar's 2024 figure is below this median.

• Selva Ganapathi Nagar: Rs 550 per sq.ft (2024)
• Selvaganapathy Nagar Annex: Rs 550 per sq.ft (2024)
• Sai Kiruba Nagar: Rs 1,480 per sq.ft (2024)
• Roja Nagar: Rs 365 per sq.ft (2024)
• R.G. Nagar Annex-I: Rs 440 per sq.ft (2024)
• Raj Nagar: Rs 1,480 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathi Nagar?

The Sub Registrar Office that covers Sarathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Pothur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved in the registration process.

When a property is registered, the guideline value is used to assess the minimum value for taxation purposes. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Sarathi Nagar?

The current guideline value of Sarathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 21 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Sarathi Nagar?

Sarathi Nagar is classified as Residential Class II Type - I, which defines its usage and regulatory framework.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Sarathi Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are also applicable at 2% of the guideline value.