Guideline Value for Sarathy Nagar 1st Street

Sarathy Nagar 1st Street guideline value

The current guideline value of Sarathy Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Sarathy Nagar 1st Street has changed

The guideline value register for Sarathy Nagar 1st Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

As per the 2024 revision, the guideline value stands at Rs 2,200 per sq.ft. There have been no changes recorded between the previous revisions for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Sarathy Nagar 1st Street's 2024 figure below that median.

• Sarathy Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 5th Street: Rs 3,300 per sq.ft (2024)
• Saraswathi Nagar West 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathy Nagar 1st 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, resulting in a total of Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarathy Nagar 1st Street?

The Sub Registrar Office that covers Sarathy Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property registration in Madipakkam-1. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the government.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This ensures transparency and compliance with local regulations during the property transfer process.

Frequently asked questions

What is the current guideline value of Sarathy Nagar 1st Street?

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

Has the guideline value changed recently?

The guideline value for Sarathy Nagar 1st Street has not changed in previous revisions, with no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023.

How does the guideline value compare to other streets in Madipakkam-1?

The guideline value of Rs 2,200 per sq.ft for Sarathy Nagar 1st Street is below the median value of Rs 2,750 per sq.ft for the area. Other streets in Madipakkam-1 have varying guideline values, with some reaching up to Rs 5,500 per sq.ft.

What fees are associated with buying property in Sarathy Nagar 1st Street?

When purchasing property in Sarathy Nagar 1st Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sarathy Nagar 1st Street?

The Velacheri Sub Registrar Office covers Sarathy Nagar 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information through the provided link.