Guideline Value for Sarojini Nagar Extension

Sarojini Nagar Extension guideline value

The current guideline value of Sarojini Nagar Extension, located in Kolathur village under the Sembiam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Sarojini Nagar Extension has changed

The guideline value for Sarojini Nagar Extension has undergone several revisions over the years. Starting from Rs 267 per sq.ft in 2002, it increased to Rs 290 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 700 per sq.ft in 2007, which was a 141% increase. By 2012, the value rose further to Rs 2,000 per sq.ft, reflecting a 186% increase from the previous revision. However, between 2012 and 2017, there was a decline to Rs 1,340 per sq.ft, representing a drop of 33%. The most recent revision in 2024 has brought the guideline value to Rs 2,200 per sq.ft, a substantial increase of 64% from 2017.

It is important to note that there is no figure available for the year 2023 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 724%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Sarojini Nagar Extension's 2024 guideline value is below this median.

• Sarojini Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar 3th Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Nagar Extension

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 cost for these 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sarojini Nagar Extension?

The Sub Registrar Office that covers Sarojini Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded accurately and fairly.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarojini Nagar Extension?

The current guideline value of Sarojini Nagar Extension 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 267 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 724%.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is higher than the current value of Sarojini Nagar Extension.

What are the stamp duty and registration fees for properties in Sarojini Nagar Extension?

For a property valued at 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.

Where is the Sub Registrar Office for Sarojini Nagar Extension located?

The Sub Registrar Office for Sarojini Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.