Guideline Value for SATHYA STREET

Sathya Street guideline value

The current guideline value of Sathya Street in Medavakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Sathya Street has changed

In the 2012 revision, the guideline value for Sathya Street was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Sathya Street in the revisions of 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Sathya Street.

• Sathya Sai Nagar /Sri Sathya Sai Nagar: Rs 1,870 per sq.ft (2024)
• Sathyamurthy Street: Rs 2,200 per sq.ft (2024)
• Sathyamurthy Cross Street: Rs 2,200 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 2,200 per sq.ft (2024)
• Selvakumar Avenue: Rs 2,200 per sq.ft (2024)
• Selvakumar Avenue Mullai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Sathya Street?

The Sub Registrar Office that covers Sathya Street is the Chennai South Joint I 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 Medavakkam

The guideline value is a critical factor in property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sathya Street?

The current guideline value of Sathya Street is Rs 2,200 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set it at Rs 2,200 per sq.ft.

Are there any years without a guideline value for Sathya Street?

Yes, there are no figures available for Sathya Street in the revisions for the years 2002, 2003, and 2007.

What is the stamp duty rate for properties in Sathya Street?

The stamp duty rate for properties in Sathya Street is 7% of the guideline value or the sale price, whichever is higher.

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

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