Guideline Value for Sarathi Street

Sarathi Street guideline value

The current guideline value of Sarathi Street in Issa Pallavaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Sarathi Street has changed

The guideline value for Sarathi Street has undergone several revisions over the years. In 2003, the value was Rs 146 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This marked a significant rise of 174%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase from the previous revision. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The 2023 revision saw the value increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1,407%. The register has no figure for Sarathi Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Sarathi Street's 2024 guideline value is below this median.

• Saraswathi Colony: Rs 2,200 per sq.ft (2024)
• Sate Line: Rs 2,200 per sq.ft (2024)
• Sathiya Nagar: Rs 2,200 per sq.ft (2024)
• Selaiyur Street: Rs 2,200 per sq.ft (2024)
• Ranganathan Street: Rs 4,400 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathi Street

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, bringing the total fees to 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 Street?

The Sub Registrar Office that covers Sarathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Sarathi Street?

The current guideline value of Sarathi Street is Rs 2,200 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 146 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,407%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Sarathi Street?

The Pallavaram Sub Registrar Office handles registrations for Sarathi Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Sarathi Street?

Sarathi Street is classified as Residential Class II Type - I, indicating its use for residential purposes.