Guideline Value for SATHIYANARAYANA AVENUE

Sathiyanarayana Avenue guideline value

The current guideline value of Sathiyanarayana Avenue is Rs 25,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - I.

How the guideline value of Sathiyanarayana Avenue has changed

The guideline value for Sathiyanarayana Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 23,000 per sq.ft, which then dropped to Rs 15,410 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 23,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 25,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no registered figures for Sathiyanarayana Avenue in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Sathiyanarayana Avenue's 2024 figure above this median.

• Sathiyadevi Avenue Extension: Rs 17,600 per sq.ft (2024)
• Sathiyadevi Avenue: Rs 22,000 per sq.ft (2024)
• Sathiavani Muthu Nagar: Rs 8,200 per sq.ft (2024)
• Sathyavani Muthu Nagar (Tnscb): Rs 3,300 per sq.ft (2024)
• School Road: Rs 9,300 per sq.ft (2024)
• School View Road: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyanarayana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 25,300 per sq.ft, the total guideline value amounts to Rs 2,53,00,000. The stamp duty at 7% would be Rs 17,71,000, and the registration fee at 2% would be Rs 5,06,000, resulting in a total of Rs 22,77,000. It is important to note that the 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 Sathiyanarayana Avenue?

The Sub Registrar Office covering Sathiyanarayana Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sathiyanarayana Avenue?

The current guideline value of Sathiyanarayana Avenue is Rs 25,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 23,000 per sq.ft in 2012 to Rs 15,410 per sq.ft in 2017, then increased to Rs 23,000 per sq.ft in 2023, and finally to Rs 25,300 per sq.ft in 2024.

What is the classification of Sathiyanarayana Avenue?

Sathiyanarayana Avenue is classified as Residential Special Type - I under the Mylapore SRO.

What is the stamp duty rate for properties in Sathiyanarayana Avenue?

The stamp duty rate for properties in Sathiyanarayana Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sathiyanarayana Avenue located?

The Sub Registrar Office for Sathiyanarayana Avenue is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.