Guideline Value for Sathiyavani Muthu Street

Sathiyavani Muthu Street guideline value

The current guideline value of Sathiyavani Muthu Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Sathiyavani Muthu Street has changed

The guideline value for Sathiyavani Muthu Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 saw another increase to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 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 is Rs 1,650 per sq.ft, which is the same as the current value for Sathiyavani Muthu Street.

• 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)
• Sathiya Muthu Street: Rs 1,320 per sq.ft (2024)
• Savitha Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyavani Muthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these charges Rs 1,48,500. 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 Sathiyavani Muthu Street?

The Sathiyavani Muthu Street falls under 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered to establish the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu Street?

The current guideline value of Sathiyavani Muthu Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets with the same guideline value in Chitlapakkam?

Several other streets in Chitlapakkam have the same guideline value of Rs 1,650 per sq.ft, including Sathrapathi Sivaji Cross Street, Sathrapathi Sivaji Street, Saththapathy Sivaji 2nd Street Sanmugam Nagar, and Saththirapathy Sivaji 1st Street Sanmugam Nagar.

Where can I find the Sub Registrar Office for Sathiyavani Muthu Street?

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

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty for properties in Chitlapakkam is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.