Guideline Value for SATHIYADEVI AVENUE

Sathiyadevi Avenue guideline value

The current guideline value of Sathiyadevi Avenue is Rs 22,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sathiyadevi Avenue has changed

The guideline value for Sathiyadevi Avenue has undergone several revisions over the years. In 2012, the guideline value was set at Rs 20,000 per sq.ft. This figure decreased to Rs 13,400 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 22,000 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, there has been a slight increase of 10% in the guideline value.

The register has no figure for Sathiyadevi Avenue in the years 2023, 2007, 2003, and 2002.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value 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's 2024 figure above this median.

• Sathiyadevi Avenue Extension: Rs 17,600 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

For a 1,000 sq.ft plot at the current guideline value of Rs 22,000 per sq.ft, the total guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, bringing the total costs together to Rs 19,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathiyadevi Avenue?

The Sub Registrar Office that covers Sathiyadevi Avenue 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

When buying or selling property in Mylapore, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the state receives appropriate revenue from property sales.

During registration, the buyer and seller must declare the sale price, and the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathiyadevi Avenue?

The current guideline value of Sathiyadevi Avenue is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 20,000 per sq.ft in 2012 to Rs 13,400 per sq.ft in 2017, and then increased to Rs 22,000 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What are the stamp duty rates for property in Sathiyadevi Avenue?

The stamp duty for property in Sathiyadevi Avenue is charged at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 15,40,000.

Where is the Mylapore Sub Registrar Office located?

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

How is the guideline value determined in Mylapore?

The guideline value in Mylapore is determined by the Registration Department and varies based on the street and land classification. It reflects the minimum value for property transactions and is updated periodically to ensure it aligns with market conditions.