Guideline Value for Sathanar Street

Sathanar Street guideline value

The current guideline value of Sathanar Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sathanar Street has changed

The guideline value of Sathanar Street has undergone several revisions over the years. In 2002, the value was Rs 156 per sq.ft, which increased to Rs 178 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft.

Examining the changes, from 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%. The rise from 2007 to 2012 was substantial at 257%, while from 2003 to 2007, the increase was 293%. The change from 2002 to 2024 reflects an overall increase of 1,695%.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Sathanar Street's 2024 figure below this median.

• Sathiya Vinayagar Street (Sithi Vinayagar Street): Rs 2,800 per sq.ft (2024)
• R. Mohanarangam Main road: Rs 5,500 per sq.ft (2024)
• Ram Nagar 2nd Main road: Rs 4,400 per sq.ft (2024)
• Raman Thottam 2nd Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam 1st Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sathanar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathanar Street?

The Sub Registrar Office that covers Sathanar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions. This value 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 Sathanar Street?

The current guideline value of Sathanar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 156 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,695%.

What are the stamp duty and registration fees for property in Sathanar Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would be Rs 2,52,000, which includes Rs 1,96,000 for stamp duty and Rs 56,000 for registration.

Which office handles property registration for Sathanar Street?

The Alandur Sub Registrar Office is responsible for property registration in Sathanar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Sathanar Street?

Sathanar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.