Guideline Value for Sathasivam 2nd Street

Sathasivam 2nd Street guideline value

The current guideline value of Sathasivam 2nd 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 2nd Street has changed

The guideline value for Sathasivam 2nd Street has seen several revisions over the years. As per the register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, the register has no figure for this street. The latest revision reflects the ongoing adjustments in the guideline values within the region.

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 for these streets is Rs 8,800 per sq.ft, placing Sathasivam 2nd Street's 2024 figure below this median.

• Sathasivam 1st 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 2nd 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, bringing the total cost for these fees to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathasivam 2nd Street?

The Sub Registrar Office that covers Sathasivam 2nd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Sathasivam 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sathasivam 2nd Street was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, with Sathasivam 2nd Street's value being below this median.

How is stamp duty calculated for property in Sathasivam 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 at 7%, along with a registration fee of Rs 1,74,000 at 2%, totaling Rs 7,83,000.

Where can I find the Sub Registrar Office for Sathasivam 2nd Street?

The Sub Registrar Office for Sathasivam 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about your SRO online.