Guideline Value for Sathiyamurthy Street

Sathiyamurthy Street guideline value

The current guideline value of Sathiyamurthy Street in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sathiyamurthy Street has changed

The guideline value for Sathiyamurthy Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, there were no recorded figures for Sathiyamurthy Street in the guideline value register. Therefore, the only available figures for this street are from 2023 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Sathiyamurthy Street's 2024 figure below this median.

• Sathiya Nagar: Rs 1,300 per sq.ft (2024)
• Sathiyamurthy Nagar: Rs 1,300 per sq.ft (2024)
• Sathiya Raj Nagar: Rs 1,600 per sq.ft (2024)
• Sathyamoorthy 2nd cross St ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Sastri Nagar (Ward-02): Rs 2,700 per sq.ft (2024)
• Sastri Nagar (Ward-01): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sathiyamurthy Street?

The Sub Registrar Office that covers Sathiyamurthy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps determine the official value of the property for tax purposes. This ensures that the appropriate fees are paid based on the established values set by the local authorities.

Frequently asked questions

What is the current guideline value of Sathiyamurthy Street?

The current guideline value of Sathiyamurthy Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 8%, moving from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft.

What is the land classification for Sathiyamurthy Street?

Sathiyamurthy Street is classified as Residential Class III Type - I according to the local land classification regulations.

What are the registration fees for property in Sathiyamurthy Street?

The registration fees for property in Sathiyamurthy Street include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sathiyamurthy Street located?

The Sub Registrar Office for Sathiyamurthy Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.