Guideline Value for SATHIAVANI MUTHU NAGAR

Sathiavani Muthu Nagar guideline value

The current guideline value of Sathiavani Muthu Nagar is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sathiavani Muthu Nagar has changed

The guideline value for Sathiavani Muthu Nagar has seen significant changes over the years. The earliest recorded revision is from 2002, where the guideline value was Rs 903 per sq.ft. This increased to Rs 1,003 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 1,540 per sq.ft, an increase of 54%. The 2012 revision saw the value at Rs 7,500 per sq.ft, reflecting a substantial increase of 387% from the previous revision. However, in 2017, the value dropped to Rs 5,025 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,200 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 808%. There are no recorded figures for Sathiavani Muthu Nagar in the years not mentioned above.

Guideline values in Mylapore

In Mylapore, 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 guideline value in this area is Rs 8,800 per sq.ft, placing Sathiavani Muthu Nagar's 2024 figure below that median.

• Sathiyadevi Avenue: Rs 22,000 per sq.ft (2024)
• Sathiyadevi Avenue Extension: Rs 17,600 per sq.ft (2024)
• Sathiyanarayana Avenue: Rs 25,300 per sq.ft (2024)
• Sathyavani Muthu Nagar (Tnscb): Rs 3,300 per sq.ft (2024)
• School Road: Rs 9,300 per sq.ft (2024)
• School View Road: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiavani Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. Duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Sathiavani Muthu Nagar?

The Sathiavani Muthu Nagar area is covered by 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 plays a crucial role in property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied.

Buyers and sellers must be aware that the guideline value is set by the government and can vary from one area to another. It is essential to check the latest guideline value to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Sathiavani Muthu Nagar?

The current guideline value of Sathiavani Muthu Nagar is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 903 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 808% over this period.

What is the land classification of Sathiavani Muthu Nagar?

Sathiavani Muthu Nagar is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Sathiavani Muthu Nagar?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which office handles property registrations in Sathiavani Muthu Nagar?

The Mylapore Sub Registrar Office handles property registrations for Sathiavani Muthu Nagar, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.