Guideline Value for SATHIYAVANI MUTHU 1ST CROSS STREET

Sathiyavani Muthu 1st Cross Street guideline value

The current guideline value of Sathiyavani Muthu 1st Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Sathiyavani Muthu 1st Cross Street has changed

The guideline value for Sathiyavani Muthu 1st Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was set at Rs 1,005 per sq.ft. This figure was revised to Rs 1,700 per sq.ft in 2024, marking an increase of 69% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register. The most recent revision in 2024 reflects the current market conditions for this area.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Sathiyavani Muthu 1st Cross Street below that median.

• Sathiyavani Muthu 1st Cross Street 1st Lane: Rs 1,700 per sq.ft (2024)
• Sathiyavani Muthu 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 3,300 per sq.ft (2024)
• Savithiri Garden: Rs 1,700 per sq.ft (2024)
• School Cross Street: Rs 3,300 per sq.ft (2024)
• School Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyavani Muthu 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyavani Muthu 1st Cross Street?

The Sathiyavani Muthu 1st Cross Street falls under 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 Sholinganallur - 1

The guideline value serves as a benchmark for property transactions in Sholinganallur - 1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring transparency in property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of purchasing property, including the fees associated with registration. Understanding this value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu 1st Cross Street?

The current guideline value of Sathiyavani Muthu 1st Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, which is a change of 69%.

Which Sub Registrar Office is responsible for Sathiyavani Muthu 1st Cross Street?

The Neelankarai Sub Registrar Office is responsible for Sathiyavani Muthu 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would be Rs 1,53,000.

What is the land classification of Sathiyavani Muthu 1st Cross Street?

Sathiyavani Muthu 1st Cross Street falls under the Residential Class IV Type - I land classification.