Guideline Value for Sathiyavani Muthu Street

Sathiyavani Muthu Street guideline value

The current guideline value of Sathiyavani Muthu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sathiyavani Muthu Street has changed

Over the years, the guideline value of Sathiyavani Muthu Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in the 2017 revision. The value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sathiyavani Muthu Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Sathiyavani Muthu Street's 2024 figure below that median.

• Sarojini Ammal Street: Rs 2,500 per sq.ft (2024)
• Saravana Street (Thiruvalluvar Nagar): Rs 2,200 per sq.ft (2024)
• Saravanan Street (Lakshmi amman Nagar): Rs 1,900 per sq.ft (2024)
• Saravanan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 1st Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiyavani Muthu Street?

The Sub Registrar Office that covers Sathiyavani Muthu Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration of property transactions. When buying or selling property in Erukancherry, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu Street?

The current guideline value of Sathiyavani Muthu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Sathiyavani Muthu Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Sathiyavani Muthu Street?

The Madhavaram Sub Registrar Office covers Sathiyavani Muthu Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Sathiyavani Muthu Street?

Sathiyavani Muthu Street is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.