Guideline Value for Sarathi nagar

Sarathi nagar guideline value

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

How the guideline value of Sarathi nagar has changed

Over the years, the guideline value of Sarathi nagar has seen significant changes. The earliest recorded revision was in 2007, with a value of Rs 200 per sq.ft. This figure rose dramatically to Rs 2,000 per sq.ft in 2012, marking a 900% increase. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% decline. The value increased again to Rs 2,000 per sq.ft in 2023, and subsequently to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from the 2007 figure to the 2024 figure is an impressive 1000%. This demonstrates the fluctuations in the guideline value over the years.

Guideline values in Poonthamallee

Poonthamallee village has a range of guideline values across its 257 streets under the Poonamallee SRO, with figures ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which aligns with the current value of Sarathi nagar.

• Saravana nagar: Rs 2,200 per sq.ft (2024)
• Sannadhi street: Rs 2,200 per sq.ft (2024)
• SB Avenue: Rs 2,740 per sq.ft (2024)
• Sakthi nagar (contonment backside): Rs 2,740 per sq.ft (2024)
• Seethapathi street: Rs 2,740 per sq.ft (2024)
• Sakthi nagar: Rs 3,250 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This helps maintain transparency in property dealings and ensures compliance with local regulations.

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?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a 1000% increase overall.

What is the land classification of Sarathi nagar?

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

Where can I find the Sub Registrar Office for Sarathi nagar?

The Sub Registrar Office for Sarathi nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Sarathi nagar?

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