Guideline Value for SATHIYAMURTHY STREET

Sathiyamurthy Street guideline value

The current guideline value of Sathiyamurthy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sathiyamurthy Street has changed

The guideline value for Sathiyamurthy Street has seen several revisions over the years. In 2002, the value was Rs 265 per sq.ft. This increased to Rs 299 per sq.ft in 2003, marking a 13% rise. The value then rose significantly to Rs 600 per sq.ft in 2007, which was an increase of 101%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a substantial 400% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1145%. The register has no figures for the years not listed in the revisions.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Sathiyamurthy Street.

• Sasthri Street: Rs 2,800 per sq.ft (2024)
• School Street: Rs 3,300 per sq.ft (2024)
• Sekizhar Street: Rs 2,800 per sq.ft (2024)
• Santhiappan Salai Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamurthy Street

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 at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiyamurthy Street?

The Sub Registrar Office that covers Sathiyamurthy Street 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 Perungudi

The guideline value plays a crucial role during the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathiyamurthy Street?

The current guideline value of Sathiyamurthy Street 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 265 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification of Sathiyamurthy Street?

Sathiyamurthy Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property on Sathiyamurthy Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with stamp duty at Rs 2,31,000 and registration fee at Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sathiyamurthy Street?

The Neelankarai Sub Registrar Office handles registrations for Sathiyamurthy Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.