Guideline Value for SATHIABAMA STREET

Sathiabama Street guideline value

The current guideline value of Sathiabama Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sathiabama Street has changed

The guideline value of Sathiabama Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 353 per sq.ft. This value increased to Rs 387 per sq.ft in 2003, marking a 10% rise. Following that, in 2007, the value surged to Rs 500 per sq.ft, reflecting a 29% increase. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, which was a 300% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 64% increase from the 2017 figure. Notably, there is no figure recorded for the year 2023 for this street.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Sathiabama Street's 2024 value below this median.

• Sathiamurthy Road: Rs 2,700 per sq.ft (2024)
• Sathiyamurthy Nagar: Rs 2,700 per sq.ft (2024)
• Sathiyamurthy (Road) Street: Rs 2,700 per sq.ft (2024)
• Sathiya Vani Muthu Nagar: Rs 2,700 per sq.ft (2024)
• Sathiya Vani Muthu Street: Rs 2,700 per sq.ft (2024)
• Sathyavani Muthu Nagar 10th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiabama Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiabama Street?

The Sub Registrar Office that covers Sathiabama Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a basis for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value must be considered to determine the applicable taxes. This value helps maintain transparency in property transactions and ensures that the government collects the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sathiabama Street?

The current guideline value of Sathiabama Street 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 353 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 523% over the years.

What is the land classification of Sathiabama Street?

Sathiabama Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Sathiabama Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO through the provided link.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft incurs a total fee of Rs 1,98,000.