Guideline Value for SATHIYAMURTHY STREET

Sathiyamurthy Street guideline value

The current guideline value of Sathiyamurthy Street in Padi village is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam SRO and is classified as Residential Class V Type - I.

How the guideline value of Sathiyamurthy Street has changed

The guideline value for Sathiyamurthy Street has undergone several revisions over the years. In 2003, the guideline value was Rs 560 per sq.ft, which increased to Rs 850 per sq.ft in 2007. The value further rose to Rs 2,300 per sq.ft in 2012, before dropping to Rs 1,541 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 2,300 per sq.ft, culminating in the current value of Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 346%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, placing Sathiyamurthy Street's 2024 figure below that median.

• Sathiya Nagar: Rs 2,500 per sq.ft (2024)
• Sathyamurthy Colony (Near Thiruvalleswarar Nagar): Rs 5,400 per sq.ft (2024)
• Sathyavathy Nagar: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 1st Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 2nd Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 3rd Street: Rs 3,400 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. Please 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees based on this value.

When a buyer or seller engages in a property transaction, they must consider the guideline value, as it influences the overall cost of registration. The registration process requires that the property be registered at the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sathiyamurthy Street?

The current guideline value of Sathiyamurthy Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 560 per sq.ft in 2003 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 346% over the years.

What is the stamp duty for property in Sathiyamurthy Street?

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

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

The Sub Registrar Office for Sathiyamurthy Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values of other streets in Padi?

Other streets in Padi have guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. Sathiyamurthy Street's guideline value is below this median.