Guideline Value for Sathiya Moorthy Lane

Sathiya Moorthy Lane guideline value

The current guideline value of Sathiya Moorthy Lane is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sathiya Moorthy Lane has changed

The guideline value for Sathiya Moorthy Lane has experienced several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 350 per sq.ft. This value saw a significant increase to Rs 2,100 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,407 per sq.ft in 2017, which is a 33% drop. The value further increased to Rs 2,100 per sq.ft in 2023, and finally, the current rate is Rs 2,310 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for Sathiya Moorthy Lane. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the current guideline value of Sathiya Moorthy Lane.

• Sathiya Moorthy Street (1 to 5): Rs 2,640 per sq.ft (2024)
• Sathguru Apartments: Rs 2,640 per sq.ft (2024)
• Sasivaradhan Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Sasi Varadhan Nagar: Rs 1,980 per sq.ft (2024)
• Sarojini Street: Rs 2,310 per sq.ft (2024)
• Sardar Adikesavalu Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Moorthy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiya Moorthy Lane?

The Sub Registrar Office that covers Sathiya Moorthy Lane is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, helping to ensure transparency in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sathiya Moorthy Lane?

The current guideline value of Sathiya Moorthy Lane is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, representing an overall increase of 560%.

What is the land classification of Sathiya Moorthy Lane?

Sathiya Moorthy Lane is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sathiya Moorthy Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,61,700.