Guideline Value for Sathasivam 1st Street

Sathasivam 1st Street guideline value

The current guideline value of Sathasivam 1st Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Sathasivam 1st Street has changed

There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for Sathasivam 1st Street. The 2023 revision set the guideline value at Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, reflecting a change of +9%.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, placing Sathasivam 1st Street's 2024 figure below that median.

• Sathasivam 2nd Street: Rs 8,700 per sq.ft (2024)
• Sathyanarayana Avenue: Rs 13,200 per sq.ft (2024)
• Seethamma Cross Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 2nd, 3rd Cross Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathasivam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total Rs 7,83,000. 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 details.

Which Sub Registrar Office covers Sathasivam 1st Street?

The Sub Registrar Office that covers Sathasivam 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the guideline value helps in assessing the applicable taxes. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sathasivam 1st Street?

The current guideline value of Sathasivam 1st Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, which is a change of +9%.

What is the median guideline value for streets in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is above the current value of Sathasivam 1st Street.

What are the stamp duty and registration fees for a property in Sathasivam 1st Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Which Sub Registrar Office handles the registration for Sathasivam 1st Street?

The Chennai Central Joint I Sub Registrar Office handles the registration for Sathasivam 1st Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.