Guideline Value for Sathrapathi Sivaji Cross Street

Sathrapathi Sivaji Cross Street guideline value

The current guideline value of Sathrapathi Sivaji Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sathrapathi Sivaji Cross Street has changed

The guideline value for Sathrapathi Sivaji Cross Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value 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 Sathrapathi Sivaji Cross Street.

• Sathiyavani Muthu 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 Sathrapathi Sivaji Cross 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. Together, these fees would total 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathrapathi Sivaji Cross Street?

The Sathrapathi Sivaji Cross Street is covered by 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 more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Ensuring that the property is valued accurately according to the guideline value helps in avoiding any legal issues during registration.

Frequently asked questions

What is the current guideline value of Sathrapathi Sivaji Cross Street?

The current guideline value of Sathrapathi Sivaji Cross 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 1,650 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Sathrapathi Sivaji Cross Street?

The land classification for Sathrapathi Sivaji Cross Street is Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Sathrapathi Sivaji Cross Street?

The Sub Registrar Office covering Sathrapathi Sivaji Cross Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.