Guideline Value for Sarathy Nagar

Sarathy Nagar guideline value

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

How the guideline value of Sarathy Nagar has changed

The guideline value register for Sarathy Nagar 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.

Since there have been no changes between the revisions, the current guideline value remains consistent with the 2024 revision figure.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Sarathy Nagar is below this median.

• Sarathy Nagar 1st Street: 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

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 or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sarathy Nagar?

The Sarathy Nagar area 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 additional details.

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

The guideline value is an essential factor when registering property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sarathy Nagar?

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

How has the guideline value changed over the years?

There have been no figures available 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.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For example, Sarathy Nagar 1st, 2nd, and 3rd Streets all have a guideline value of Rs 2,200 per sq.ft, while streets like Saraswathi Street have a higher value of Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for property in Sarathy Nagar?

The stamp duty for property in Sarathy Nagar is 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Sarathy Nagar?

The Velacheri Sub Registrar Office handles property registrations for Sarathy Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.