Guideline Value for SATHUR BALAKRISHNAN STREET

Sathur Balakrishnan Street guideline value

The current guideline value of Sathur Balakrishnan Street is Rs 700 per sq.ft. This street is located in Vengathur village, under the Manavalanagar SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Sathur Balakrishnan Street has changed

Over the years, the guideline value for Sathur Balakrishnan Street has seen several revisions. The earliest recorded figure in 2007 was Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, this value dropped to Rs 469 per sq.ft in 2017 before rising again to Rs 700 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The substantial rise from 2007 to 2012 was 460%, while the decrease from 2012 to 2017 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Sathur Balakrishnan Street's 2024 guideline value is below this median.

• Sathiya Moorthy Street: Rs 1,300 per sq.ft (2024)
• School Street: Rs 700 per sq.ft (2024)
• Sekizhar Street: Rs 1,300 per sq.ft (2024)
• Sannathi Street: Rs 800 per sq.ft (2024)
• Sengalvarayan Street: Rs 700 per sq.ft (2024)
• Seran Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathur Balakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, resulting in a total of Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sathur Balakrishnan Street?

The Sub Registrar Office that covers Sathur Balakrishnan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the property is registered at a value that reflects the current market conditions as set by the authorities.

When buying or selling property, the guideline value helps in establishing a fair transaction price, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sathur Balakrishnan Street?

The current guideline value of Sathur Balakrishnan Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, with significant fluctuations in between, including a drop to Rs 469 per sq.ft in 2017.

What is the land classification for Sathur Balakrishnan Street?

Sathur Balakrishnan Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Sathur Balakrishnan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.