Guideline Value for SATHIYAMURTHI ROAD (IN LAKSHMAN NAGAR)

Sathiyamurthi Road (In Lakshman Nagar) guideline value

The current guideline value of Sathiyamurthi Road (In Lakshman Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sathiyamurthi Road (In Lakshman Nagar) has changed

The guideline value for Sathiyamurthi Road (In Lakshman Nagar) has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. For the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Sathiyamurthi Road (In Lakshman Nagar).

• School 1st Street: Rs 2,800 per sq.ft (2024)
• School 2nd Street: Rs 2,800 per sq.ft (2024)
• School Street: Rs 2,800 per sq.ft (2024)
• Sea Shell Avenue: Rs 3,900 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamurthi Road (In Lakshman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyamurthi Road (In Lakshman Nagar)?

The Sub Registrar Office that covers Sathiyamurthi Road (In Lakshman Nagar) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two figures is used to calculate the stamp duty, which is an essential cost for buyers to consider during the transaction process.

Frequently asked questions

What is the current guideline value of Sathiyamurthi Road (In Lakshman Nagar)?

The current guideline value of Sathiyamurthi Road (In Lakshman Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sathiyamurthi Road (In Lakshman Nagar)?

Sathiyamurthi Road (In Lakshman Nagar) is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Sathiyamurthi Road (In Lakshman Nagar)?

The Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Palavakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.