Guideline Value for SATHIYAVANI MUTHU STREET

Sathiyavani Muthu Street guideline value

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

How the guideline value of Sathiyavani Muthu Street has changed

The guideline value for Sathiyavani Muthu Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a significant increase from the 2017 revision, which was Rs 2,010 per sq.ft. This marks a change of +64% from 2017 to 2024. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, the guideline value for Sathiyavani Muthu Street was not recorded in the register, indicating that there were no figures available for those years. The increase from Rs 2,010 in 2017 to Rs 3,300 in 2024 reflects a notable adjustment in the property valuation for this street.

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 in this area is Rs 2,200 per sq.ft, positioning Sathiyavani Muthu Street's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyavani Muthu Street?

The Sathiyavani Muthu Street is covered by 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 is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu Street?

The current guideline value of Sathiyavani Muthu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, representing a change of +64%.

What are the other streets in Sholinganallur - 1 with guideline values?

Other streets in Sholinganallur - 1 include Sathiyavani Muthu 2nd Cross Street, Sathiyavani Muthu 1st Cross Street 1st Lane, Sathiyavani Muthu 1st Cross Street, Savithiri Garden, School Cross Street, and School Road, with values ranging from Rs 1,700 to Rs 3,300 per sq.ft.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated on properties in Sathiyavani Muthu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 incurs a stamp duty of Rs 2,31,000 at 7%.