Guideline Value for Sarathy Nagar 3rd Street

Sarathy Nagar 3rd Street guideline value

The current guideline value of Sarathy Nagar 3rd Street is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sarathy Nagar 3rd Street has changed

The guideline value for Sarathy Nagar 3rd Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. With the 2024 revision, this value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only revisions available are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 for these streets is Rs 2,750 per sq.ft, placing Sarathy Nagar 3rd Street's 2024 figure below this median.

• Sarathy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar: 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 3rd 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 is charged at 7%, resulting in Rs 1,54,000, while the registration fee at 2% amounts to Rs 44,000. Together, the total cost for stamp duty and registration fee would be 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 Sarathy Nagar 3rd Street?

The Sarathy Nagar 3rd Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value of Sarathy Nagar 3rd Street?

The current guideline value of Sarathy Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, representing a change of +64%.

Are there any years with no guideline value for Sarathy Nagar 3rd Street?

Yes, the guideline value register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Sarathy Nagar 3rd Street.

What is the median guideline value in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current guideline value of Sarathy Nagar 3rd Street.

How is the stamp duty calculated for properties in Sarathy Nagar 3rd Street?

Stamp duty for properties in Sarathy Nagar 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.