Guideline Value for Sathani Lane

Sathani Lane guideline value

The current guideline value of Sathani Lane is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Sathani Lane has changed

The guideline value for Sathani Lane has seen significant changes over the years. In 2002, the guideline value was Rs 310 per sq.ft. This figure increased dramatically to Rs 3,500 per sq.ft in 2012, marking an increase of 1,029%. However, it then decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for Sathani Lane for the years 2003 and 2007, as the register does not contain any data for these years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Sathani Lane's 2024 guideline value is below this median.

• Sathanipet 2nd Street Extn.: Rs 3,850 per sq.ft (2024)
• Sathanipettai 1st Street: Rs 3,850 per sq.ft (2024)
• Sathanipettai 2nd Street: Rs 3,850 per sq.ft (2024)
• Sathanipettai Street: Rs 3,850 per sq.ft (2024)
• Sasthri Road / Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Sasthri Road / Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathani Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these costs would total Rs 3,46,500. It is important to note that the 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 information.

Which Sub Registrar Office covers Sathani Lane?

The Sub Registrar Office that covers Sathani Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications during the transaction process.

When a property is bought or sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sathani Lane?

The current guideline value of Sathani Lane is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 310 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 1,142%.

What is the land classification for Sathani Lane?

Sathani Lane is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sathani Lane?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office handles transactions for Sathani Lane?

The Velacheri Sub Registrar Office handles transactions for Sathani Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.