Guideline Value for SATHIYAMURTHY NAGAR

Sathiyamurthy Nagar guideline value

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

How the guideline value of Sathiyamurthy Nagar has changed

The guideline value of Sathiyamurthy Nagar has seen several revisions over the years. In 2002, the value was Rs 471 per sq.ft, which increased to Rs 517 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 550 per sq.ft in 2007, a change of 6%. The following revision in 2012 saw a significant increase to Rs 2,500 per sq.ft, a jump of 355%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 brought the guideline value to Rs 2,700 per sq.ft, representing a 61% increase from 2017.

Overall, from 2002 to 2024, the guideline value has risen by 473%. It is important to note that there is no figure available for the year 2023 for this street.

Guideline values in Perambur

In Perambur village, 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 is Rs 2,700 per sq.ft, which is equal to the current guideline value of Sathiyamurthy Nagar.

• Sathiyamurthy (Road) Street: 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 Nagar

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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sathiyamurthy Nagar?

The Sub Registrar Office that covers Sathiyamurthy Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations.

When a property is sold, the guideline value is considered the minimum value for taxation purposes. Therefore, it is essential for both parties to understand how this value impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sathiyamurthy Nagar?

The current guideline value of Sathiyamurthy Nagar 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 significantly from Rs 471 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 473% over the years.

What is the stamp duty rate for property in Sathiyamurthy Nagar?

The stamp duty rate for property in Sathiyamurthy Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sathiyamurthy Nagar?

The Sub Registrar Office for Sathiyamurthy Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as the minimum value for taxation purposes and is essential for both buyers and sellers to understand.