Guideline Value for SATHIYA MOORTHY STREET

Sathiya Moorthy Street guideline value

The current guideline value of Sathiya Moorthy Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Sathiya Moorthy Street has changed

The guideline value for Sathiya Moorthy Street has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 871 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,300 per sq.ft, which remains unchanged in the 2024 revision as well.

From 2017 to 2023, there was a substantial increase of 49%. The most notable change occurred from 2007 to 2012, where the value surged by 767%. Overall, from 2007 to 2024, the guideline value has increased by 767%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, placing Sathiya Moorthy Street above this median at Rs 1,300 per sq.ft.

• Sathur Balakrishnan Street: Rs 700 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)
• Sekizhar Street: Rs 1,300 per sq.ft (2024)
• Sannathi Street: Rs 800 per sq.ft (2024)
• Sengalvarayan Street: Rs 700 per sq.ft (2024)
• Seran Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Moorthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiya Moorthy Street?

The Sub Registrar Office that covers Sathiya Moorthy Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers should be aware that the guideline value is the basis for calculating the fees, and it is essential to ensure that the property is valued accurately according to the current guideline value.

Frequently asked questions

What is the current guideline value of Sathiya Moorthy Street?

The current guideline value of Sathiya Moorthy Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreasing to Rs 871 per sq.ft in 2017, and remaining at Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Sathiya Moorthy Street?

Sathiya Moorthy Street is classified as Commercial Class I Type - III under the guideline value register.

Where can I find the Sub Registrar Office for Sathiya Moorthy Street?

The Sub Registrar Office for Sathiya Moorthy Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Sathiya Moorthy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.