Guideline Value for Sathiyanarayana Street

Sathiyanarayana Street guideline value

The current guideline value of Sathiyanarayana Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Sathiyanarayana Street has changed

The guideline value for Sathiyanarayana Street has undergone several revisions over the years. In 2002, the value was Rs 196 per sq.ft, which increased to Rs 220 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and a further increase to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The period from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was 250%. The value increased by 355% from 2003 to 2007 and by 12% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,890%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, and Sathiyanarayana Street's 2024 figure of Rs 3,900 per sq.ft is above this median.

• Seenivasa Street: Rs 3,900 per sq.ft (2024)
• Selvaganapathi Koil Street: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street North: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street South: Rs 2,800 per sq.ft (2024)
• Sankar Nagar Main Road: Rs 2,800 per sq.ft (2024)
• Sankar Nagar Extension: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyanarayana Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 Sathiyanarayana Street?

The Sub Registrar Office covering Sathiyanarayana 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 Ullagaram

The guideline value plays a crucial role when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sathiyanarayana Street?

The current guideline value of Sathiyanarayana Street is Rs 3,900 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 196 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,890% over this period.

What is the land classification for Sathiyanarayana Street?

Sathiyanarayana Street is classified as Residential Class I Type - III under the Alandur SRO.

What are the stamp duty rates for properties in Sathiyanarayana Street?

The stamp duty rate for properties in Sathiyanarayana Street is 7%, based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sathiyanarayana Street located?

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