Guideline Value for Mayor SathyaMurthy Road

Mayor SathyaMurthy Road guideline value

The current guideline value of Mayor SathyaMurthy Road is Rs 8,300 per sq.ft, effective from 1 July 2024. This road is located in Egmore village under the Periamet SRO, and the land classification is Residential Class I Type - III.

How the guideline value of Mayor SathyaMurthy Road has changed

In the 2002 revision, the guideline value was Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a change of +10%. The value saw a significant rise to Rs 1,040 per sq.ft in 2007, which was a +57% increase. Following this, the 2012 revision recorded a guideline value of Rs 7,600 per sq.ft, reflecting a massive +631% change from the previous figure. However, it then dropped to Rs 5,092 per sq.ft in 2017, showing a decrease of -33%.

In 2023, the guideline value increased to Rs 7,600 per sq.ft, marking a +49% rise. The most recent revision in 2024 set the guideline value at Rs 8,300 per sq.ft, which is a +9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1281%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Mayor SathyaMurthy Road's 2024 figure above this median.

• Mayor Chittibabu Street: Rs 13,400 per sq.ft (2024)
• Mayor V.R.Ramanathan 1st lane: Rs 11,000 per sq.ft (2024)
• Mayor V.R.Ramanathan 2nd lane: Rs 11,000 per sq.ft (2024)
• McNicholas road: Rs 18,100 per sq.ft (2024)
• McNicholas road 1st lane: Rs 11,000 per sq.ft (2024)
• McNicholas road 2nd lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mayor SathyaMurthy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayor SathyaMurthy Road?

The Sub Registrar Office that covers Mayor SathyaMurthy Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Egmore, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office will refer to the guideline value to assess the appropriate fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mayor SathyaMurthy Road?

The current guideline value of Mayor SathyaMurthy Road is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an increase from Rs 601 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, which is an overall increase of +1281%.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Mayor SathyaMurthy Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, which covers Mayor SathyaMurthy Road.

How can I calculate the registration fees?

You can calculate the registration fees using the guideline value and the applicable rates. For assistance, you can use the stamp duty and registration fee calculator.