Guideline Value for Sathanipettai 2nd Street

Sathanipettai 2nd Street guideline value

The current guideline value of Sathanipettai 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Sathanipettai 2nd Street has changed

In the 2012 revision, the guideline value for Sathanipettai 2nd Street was Rs 3,500 per sq.ft. This value decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,500 per sq.ft. The latest revision in 2024 has further increased the value to Rs 3,850 per sq.ft, which is a rise of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sathanipettai 2nd Street. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Sathanipettai 2nd Street's 2024 figure below that median.

• Sathanipettai 1st Street: Rs 3,850 per sq.ft (2024)
• Sathanipettai Street: Rs 3,850 per sq.ft (2024)
• Sathanipet 2nd Street Extn.: Rs 3,850 per sq.ft (2024)
• Sathani Lane: 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 Sathanipettai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathanipettai 2nd Street?

The Sathanipettai 2nd Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are paying a price that aligns with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sathanipettai 2nd Street?

The current guideline value of Sathanipettai 2nd Street 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 seen several changes: it was Rs 3,500 per sq.ft in 2012, decreased to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 raised it to Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property in Sathanipettai 2nd Street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration of properties in Sathanipettai 2nd Street?

The Velacheri Sub Registrar Office handles the registration of properties in Sathanipettai 2nd Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sathanipettai 2nd Street?

The land classification for Sathanipettai 2nd Street is Residential Class II Type - III, indicating its designation for residential use.