Guideline Value for Sathiya Muthu Street

Sathiya Muthu Street guideline value

The current guideline value of Sathiya Muthu Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sathiya Muthu Street has changed

The guideline value for Sathiya Muthu Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the 2024 guideline value for Sathiya Muthu Street is below this median.

• Sathiyavani Muthu Street: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Cross Street: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Street: Rs 1,650 per sq.ft (2024)
• Saththapathy Sivaji 2nd Street Sanmugam Nagar: Rs 1,650 per sq.ft (2024)
• Saththirapathy Sivaji 1st Street Sanmugam Nagar: Rs 1,650 per sq.ft (2024)
• Sarvamangala Nagar Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Muthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Therefore, the total cost for stamp duty and registration would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathiya Muthu Street?

The Sub Registrar Office that covers Sathiya Muthu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value can influence the overall cost of the property transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, aligning with the prevailing rates in the area. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sathiya Muthu Street?

The current guideline value of Sathiya Muthu Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sathiya Muthu Street?

The land classification for Sathiya Muthu Street is Residential Class II Type - I.

What are the guideline values of other streets in Chitlapakkam?

Other streets in Chitlapakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft.

Where is the Sub Registrar Office for Sathiya Muthu Street located?

The Sub Registrar Office for Sathiya Muthu Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.