Guideline Value for Sathiya Vinayagar Street (Sithi Vinayagar Street)

Sathiya Vinayagar Street (Sithi Vinayagar Street) guideline value

The current guideline value for Sathiya Vinayagar Street (Sithi Vinayagar Street) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sathiya Vinayagar Street (Sithi Vinayagar Street) has changed

The guideline value for Sathiya Vinayagar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%.

Guideline values in Nanganallur

Nanganallur has 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Sathiya Vinayagar Street's 2024 figure below this median.

• Sathanar Street: Rs 2,800 per sq.ft (2024)
• R. Mohanarangam Main road: Rs 5,500 per sq.ft (2024)
• Ram Nagar 2nd Main road: Rs 4,400 per sq.ft (2024)
• Raman Thottam 2nd Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam 1st Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Vinayagar Street (Sithi Vinayagar Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the 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 Vinayagar Street (Sithi Vinayagar Street)?

The Sub Registrar Office that covers Sathiya Vinayagar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It serves as a reference for calculating the stamp duty and registration fees, ensuring that these costs are based on an official valuation of the property.

When a property is registered, the guideline value is used to determine the minimum value for taxation purposes. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Sathiya Vinayagar Street?

The current guideline value for Sathiya Vinayagar Street (Sithi Vinayagar Street) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the other guideline values in Nanganallur?

In Nanganallur, other streets have guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft.

What fees are associated with buying property in Sathiya Vinayagar Street?

When buying property in Sathiya Vinayagar Street, buyers should consider the stamp duty of 7% and the registration fee of 2%, which are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sathiya Vinayagar Street?

The Sub Registrar Office for Sathiya Vinayagar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.