Guideline Value for SADAYAPPAN STREET

Sadayappan Street guideline value

The current guideline value of Sadayappan Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class II Type - III.

How the guideline value of Sadayappan Street has changed

Over the years, the guideline value of Sadayappan Street has seen significant changes. The earliest recorded figure is from 2002, where the value was Rs 959 per sq.ft. It increased to Rs 1,066 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, which was a substantial increase of 44%. The 2012 revision showed a drop to Rs 10,500 per sq.ft, a decrease of 33% from the previous figure. However, the value rebounded to Rs 7,035 per sq.ft in 2017, reflecting a 49% increase. In 2023, the guideline value further increased to Rs 10,500 per sq.ft, and the latest revision in 2024 set it at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1099%. There are no figures available for the revisions in the years not listed, and thus, we cannot provide any information on those years.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which means that Sadayappan Street's current guideline value is above this median.

• SAINT MARYS ROAD (Bakthvatchalam street to R.K.Road): Rs 15,400 per sq.ft (2024)
• SAINT MARY'S ROAD (From Bakthavachalam st to TTK Road): Rs 15,400 per sq.ft (2024)
• RUTHER FORD PURAM (Dr.Radha Krishnan Salai , Dr.Natesan Road): Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 1st Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 2nd Street: Rs 3,300 per sq.ft (2024)
• Saiva Muthiah 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sadayappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total cost for these fees Rs 10,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sadayappan Street?

The Sub Registrar Office that covers Sadayappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers need to be aware of this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is used to assess the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sadayappan Street?

The current guideline value of Sadayappan Street is Rs 11,500 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 959 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 1099% over the years.

What is the land classification of Sadayappan Street?

Sadayappan Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Sadayappan Street?

The Sub Registrar Office for Sadayappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated for properties in Mylapore?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,15,00,000, the total fees would amount to Rs 10,35,000.