Guideline Value for sarathampal street ext

Sarathampal Street Ext guideline value

The current guideline value of Sarathampal Street Ext is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - II.

How the guideline value of Sarathampal Street Ext has changed

The guideline value for Sarathampal Street Ext has undergone several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, followed by the most recent revision in 2024, which set the value at Rs 3,850 per sq.ft.

Specifically, the changes between revisions are notable. From 2012 to 2017, the guideline value decreased by 33%. Then, from 2017 to 2023, it increased by 49%. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing Sarathampal Street Ext's 2024 figure above that median.

• Sarathammal Nagar Ext: Rs 3,850 per sq.ft (2024)
• Sarathambal Street: Rs 3,850 per sq.ft (2024)
• Saratha Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Saratha Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Saraswathi Street: Rs 1,650 per sq.ft (2024)
• Sarmaingala Nagar 1st Santhu: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarathampal Street Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the 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 Sarathampal Street Ext?

The Sub Registrar Office that covers Sarathampal Street Ext is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Chitlapakkam. It serves as a reference point for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sarathampal Street Ext?

The current guideline value of Sarathampal Street Ext is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with a decrease in 2017 followed by increases in subsequent revisions. The most recent revision in 2024 shows an increase of 10% from the previous year.

What is the land classification for Sarathampal Street Ext?

Sarathampal Street Ext is classified as Residential Special Type - II. This classification affects the guideline value and the type of properties that can be developed in this area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Sarathampal Street Ext?

The Tambaram Joint 1 Sub Registrar Office covers Sarathampal Street Ext and is located at No.26, Mes Road, East Tambaram, Chennai-600059.