Guideline Value for Sarathi Nagar

Sarathi Nagar guideline value

The current guideline value of Sarathi Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Sarathi Nagar has changed

The guideline value for Sarathi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 14 per sq.ft, which increased drastically to Rs 200 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, but saw a decline to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and then saw a substantial rise to Rs 1,006 per sq.ft in 2024, marking an increase of 101% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 7086%. The register does not provide a figure for Sarathi Nagar for the year 2002.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Sarathi Nagar's current guideline value of Rs 1,006 per sq.ft is above this median.

• Saraswathi Nagar: Rs 1,006 per sq.ft (2024)
• Sarabeshwara Nagar: Rs 1,004 per sq.ft (2024)
• Sangeetha Nagar: Rs 1,006 per sq.ft (2024)
• Samuvel Nagar Part-II: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Samuel Nagar Part: Rs 1,003 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 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total cost together to Rs 90,540. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 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 Vadaperumbakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sarathi Nagar?

The current guideline value of Sarathi Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 14 per sq.ft in 2003 to Rs 1,006 per sq.ft in 2024, marking an overall increase of 7086% over the years.

What is the land classification of Sarathi Nagar?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total cost of Rs 90,540 in fees.

Where is the Sub Registrar Office for Sarathi Nagar located?

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