Guideline Value for SATHIYAMURTHY (ROAD) STREET

Sathiyamurthy (Road) Street guideline value

The current guideline value of Sathiyamurthy (Road) Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class III Type - II.

How the guideline value of Sathiyamurthy (Road) Street has changed

Over the years, the guideline value for Sathiyamurthy (Road) Street has seen several revisions. The earliest available figure is from 2003, where the value was Rs 461 per sq.ft. This increased to Rs 550 per sq.ft in 2007, marking a change of +19%. Following this, the value surged to Rs 2,500 per sq.ft in 2012, a significant increase of +355%. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of -33%. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of +61% from the 2017 figure. There are no figures available for the years 2023 and 2002 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 guideline value of Sathiyamurthy (Road) Street.

• Sathiyamurthy Nagar: Rs 2,700 per sq.ft (2024)
• Sathiamurthy Road: Rs 2,700 per sq.ft (2024)
• Sathiabama Street: Rs 2,200 per sq.ft (2024)
• Sathiya Vani Muthu Nagar: Rs 2,700 per sq.ft (2024)
• Sathiya Vani Muthu Street: Rs 2,700 per sq.ft (2024)
• Sathyavani Muthu Nagar 10th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamurthy (Road) Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyamurthy (Road) Street?

The Sub Registrar Office that covers Sathiyamurthy (Road) Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum price at which properties can be registered.

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

Frequently asked questions

What is the current guideline value of Sathiyamurthy (Road) Street?

The current guideline value of Sathiyamurthy (Road) Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 461 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +486% over the years.

Which Sub Registrar Office is responsible for Sathiyamurthy (Road) Street?

The Purasaivakkam Sub Registrar Office is responsible for Sathiyamurthy (Road) Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,43,000 in fees.

What is the land classification for Sathiyamurthy (Road) Street?

Sathiyamurthy (Road) Street is classified as Residential Class III Type - II, indicating its designation for residential use.