Guideline Value for SATHIYADEVI AVENUE EXTENSION

Sathiyadevi Avenue Extension guideline value

The current guideline value for Sathiyadevi Avenue Extension is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Sathiyadevi Avenue Extension has changed

In the 2012 revision, the guideline value was Rs 16,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 16,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 17,600 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for Sathiyadevi Avenue Extension.

Guideline values in Mylapore

The guideline values for properties in Mylapore vary significantly, with 883 streets under the Mylapore SRO carrying a 2024 figure ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Sathiyadevi Avenue Extension above this median.

• Sathiyadevi Avenue: Rs 22,000 per sq.ft (2024)
• Sathiavani Muthu Nagar: Rs 8,200 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 Sathiyadevi Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees to Rs 15,84,000. 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 Sathiyadevi Avenue Extension?

The Sathiyadevi Avenue Extension falls under 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 critical factor in property transactions in Mylapore, as it determines the amount of stamp duty and registration fees payable during the registration of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sathiyadevi Avenue Extension?

The current guideline value for Sathiyadevi Avenue Extension is Rs 17,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The value remained Rs 16,000 per sq.ft from 2012 to 2023 and then rose to Rs 17,600 per sq.ft in 2024.

What is the land classification for Sathiyadevi Avenue Extension?

Sathiyadevi Avenue Extension is classified as Residential Special Type - III under the Mylapore SRO.

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties in Sathiyadevi Avenue Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 1,76,00,000, the stamp duty at 7% would be Rs 12,32,000.