Guideline Value for Sathiya Murthy Salai

Sathiya Murthy Salai guideline value

The current guideline value of Sathiya Murthy Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sathiya Murthy Salai has changed

The guideline value for Sathiya Murthy Salai has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, the value dropped to Rs 2,010 per sq.ft in 2017, representing a 33% decrease. In 2023, the value rose to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Sathiya Murthy Salai's 2024 figure below that median.

• Sathiyapuri Huts: Rs 2,200 per sq.ft (2024)
• Sasthiri Street: Rs 2,200 per sq.ft (2024)
• Sathya Narayana Street: Rs 4,900 per sq.ft (2024)
• Sarvamangala Colony Block 31: Rs 7,000 per sq.ft (2024)
• School 1 to 7 Cross Street: Rs 4,400 per sq.ft (2024)
• School Street (Jafferkhanpettai): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Murthy Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees together Rs 2,97,000. It is important to note that 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 Sathiya Murthy Salai?

The Sub Registrar Office that covers Sathiya Murthy Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kodambakkam, serving as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathiya Murthy Salai?

The current guideline value of Sathiya Murthy Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the stamp duty and registration fees for properties in Sathiya Murthy Salai?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Sathiya Murthy Salai?

The Ashok Nagar Sub Registrar Office covers Sathiya Murthy Salai, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Sathiya Murthy Salai's value being below this median.