Guideline Value for SATHYANARAYANA ROAD

Sathyanarayana Road guideline value

The current guideline value of Sathyanarayana Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sathyanarayana Road has changed

The guideline value for Sathyanarayana Road has seen significant changes over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012, reflecting a rise of 500%. However, by 2017, the value dropped to Rs 4,020 per sq.ft, marking a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, and subsequently rose to Rs 6,600 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for Sathyanarayana Road in the years 2002 and 2003.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which matches the current guideline value for Sathyanarayana Road.

• School Road: Rs 7,700 per sq.ft (2024)
• Sastri Main Road: Rs 6,600 per sq.ft (2024)
• Sastri 3 Rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Sastri 1 St Cross Street: Rs 4,400 per sq.ft (2024)
• Saradambal Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyanarayana Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value is Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sathyanarayana Road?

The Sathyanarayana Road falls under the jurisdiction of the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Mambalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees. Buyers and sellers must adhere to this value during the registration process to comply with legal requirements.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Sathyanarayana Road?

The current guideline value of Sathyanarayana Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What are the other guideline values in Mambalam?

In Mambalam, the guideline values for other streets range from Rs 4,400 to Rs 22,000 per sq.ft, with the median value being Rs 6,600 per sq.ft.

What are the stamp duty and registration fees for properties on Sathyanarayana Road?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for Sathyanarayana Road?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35, handles the registration for Sathyanarayana Road.