Guideline Value for SATHIYAVANI MUTHU 2ND CROSS STREET

Sathiyavani Muthu 2nd Cross Street guideline value

The current guideline value of Sathiyavani Muthu 2nd Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Sathiyavani Muthu 2nd Cross Street has changed

In the 2017 revision, the guideline value was set at Rs 1,005 per sq.ft. The latest revision in 2024 shows a significant increase to Rs 1,700 per sq.ft, marking a change of +69% from the previous figure. It is important to note that the register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

Thus, the only revisions available for Sathiyavani Muthu 2nd Cross Street are from 2017 and 2024, with the latter reflecting a substantial rise in the guideline value. The increase indicates a notable adjustment in property valuation over this period.

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 value for these streets is Rs 2,200 per sq.ft, placing Sathiyavani Muthu 2nd Cross Street's 2024 figure below that median.

• Sathiyavani Muthu 1st Cross Street 1st Lane: Rs 1,700 per sq.ft (2024)
• Sathiyavani Muthu 1st 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 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiyavani Muthu 2nd Cross Street?

The Sathiyavani Muthu 2nd 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 further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, emphasizing the importance of understanding the guideline value in real estate transactions.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu 2nd Cross Street?

The current guideline value of Sathiyavani Muthu 2nd Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, which is a rise of +69%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Sathiyavani Muthu 2nd Cross Street?

The land classification for Sathiyavani Muthu 2nd Cross Street is Residential Class IV Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.