Guideline Value for SATHYAMOORTHY COLONY

Sathyamoorthy Colony guideline value

The current guideline value of Sathyamoorthy Colony, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,110 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Sathyamoorthy Colony has changed

Over the years, the guideline value of Sathyamoorthy Colony has undergone several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. However, the latest revision in 2024 has increased the guideline value to Rs 1,110 per sq.ft, marking a significant increase of 66% from the 2017 figure. Overall, from 2012 to 2024, there has been an increase of 11% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register. The changes between the revisions show a notable fluctuation, particularly the drop from 2012 to 2017, which was a decrease of 33%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sathyamoorthy Colony's 2024 figure below this median.

• Sathiyaseeli Nagar: Rs 1,320 per sq.ft (2024)
• Sathiya Moorthy Nagar: Rs 1,320 per sq.ft (2024)
• Sarvamangala Nagar: Rs 1,320 per sq.ft (2024)
• Selvam Nagar: Rs 2,750 per sq.ft (2024)
• Selvam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Selvam Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamoorthy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, leading to a total of Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathyamoorthy Colony?

The Sathyamoorthy Colony is covered by 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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are accurately assessed based on the property's value.

When a property transaction occurs, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sathyamoorthy Colony?

The current guideline value of Sathyamoorthy Colony is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then increased to Rs 1,110 per sq.ft in 2024. Overall, there has been an 11% increase from 2012 to 2024.

What is the land classification of Sathyamoorthy Colony?

Sathyamoorthy Colony is classified as Residential Class IV Type - III.

Where can I find the registration office for Sathyamoorthy Colony?

The registration office covering Sathyamoorthy Colony 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.

How is the stamp duty calculated for properties in Sathyamoorthy Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 11,10,000, the stamp duty at 7% would be Rs 77,700.