Guideline Value for SATHYA NARAYANAN STREET

Sathya Narayanan Street guideline value

The current guideline value of Sathya Narayanan Street is Rs 3,190 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Sathya Narayanan Street has changed

Over the years, the guideline value of Sathya Narayanan Street has experienced several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 2,900 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,943 per sq.ft. Following this, the value increased significantly to Rs 2,900 per sq.ft in 2023, and then rose again to Rs 3,190 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, comparing the years 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value for these streets is Rs 3,190 per sq.ft, which is equal to the current guideline value of Sathya Narayanan Street.

• Sathyabama Street: Rs 3,190 per sq.ft (2024)
• Seelapathy Baskaran Street: Rs 3,190 per sq.ft (2024)
• Santhana Lakshmi Street: Rs 3,190 per sq.ft (2024)
• Sanjay Gandhi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 2nd Cross: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st Cross: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Narayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total cost for stamp duty and registration fees to Rs 2,87,100. 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 Sathya Narayanan Street?

The Sub Registrar Office that covers Sathya Narayanan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Perumalagaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the legal value of the property, which is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sathya Narayanan Street?

The current guideline value of Sathya Narayanan Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 2,900 in 2012 to Rs 1,943 in 2017, then back to Rs 2,900 in 2023, and finally to Rs 3,190 in 2024.

What is the land classification for Sathya Narayanan Street?

Sathya Narayanan Street is classified as Residential Class V Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at the current guideline value of Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Where can I find the Sub Registrar Office for Sathya Narayanan Street?

The Sub Registrar Office for Sathya Narayanan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.