Guideline Value for Sathiyanarayanan Street

Sathiyanarayanan Street guideline value

The current guideline value of Sathiyanarayanan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sathiyanarayanan Street has changed

The guideline value for Sathiyanarayanan Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 394 per sq.ft. It increased to Rs 427 per sq.ft in 2003, marking an 8% rise. The value saw a significant jump to Rs 800 per sq.ft in 2007, which was a 87% increase. In 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of 33%. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a 49% increase from the previous revision. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the current 2024 revision has increased it to Rs 2,700 per sq.ft, representing an 8% rise.

There are no figures available for the revisions of the years not mentioned in the register for Sathiyanarayanan Street. The overall increase from the 2002 revision to the 2024 revision is 585%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Sathiyanarayanan Street.

• Seethapathi Street: Rs 1,900 per sq.ft (2024)
• Semathamman Koil Street: Rs 1,900 per sq.ft (2024)
• Samudeeswari Nagar: Rs 1,900 per sq.ft (2024)
• Shanthi Colony / Nagar: Rs 2,700 per sq.ft (2024)
• Sakheeswaran Nagar: Rs 2,200 per sq.ft (2024)
• Sabapathi Mudali Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyanarayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiyanarayanan Street?

The Sub Registrar Office that covers Sathiyanarayanan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathiyanarayanan Street?

The current guideline value of Sathiyanarayanan Street is Rs 2,700 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 394 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 585% over the years.

What is the stamp duty rate for property in Sathiyanarayanan Street?

The stamp duty rate for property transactions in Sathiyanarayanan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sathiyanarayanan Street located?

The Sub Registrar Office for Sathiyanarayanan Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the guideline values of other streets in Sembiam?

Other streets in Sembiam have varying guideline values, with Seethapathi Street, Semathamman Koil Street, and Samudeeswari Nagar all at Rs 1,900 per sq.ft, while Shanthi Colony / Nagar and Sabapathi Mudali Street are at Rs 2,700 per sq.ft.