Guideline Value for Sathanar Street

Sathanar Street guideline value

The current guideline value of Sathanar Street in Palavanthangal village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls 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 for Sathanar Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Sathanar Street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Sathanar Street is below this median.

• Rangabhashyam Pillai Street: Rs 4,400 per sq.ft (2024)
• Railway partar Road: Rs 4,400 per sq.ft (2024)
• Railway Border Colony: Rs 4,400 per sq.ft (2024)
• Puliyanthoppu: Rs 2,800 per sq.ft (2024)
• Poonthottam Colony Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 information.

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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. It is essential to consider the guideline value when planning any property dealings in the area.

Frequently asked questions

What is the current guideline value of Sathanar Street?

The current guideline value of Sathanar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the other streets in Palavanthangal with their guideline values?

Other streets in Palavanthangal include Rangabhashyam Pillai Street, Railway partar Road, Railway Border Colony, Puliyanthoppu, Poonthottam Colony Street, and Teacher Colony, with values ranging from Rs 2,800 to Rs 4,400 per sq.ft in 2024.

What fees are involved when buying property on Sathanar Street?

When buying property on Sathanar Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. Together, these fees can add a significant amount to the overall cost of the property transaction.

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

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