Guideline Value for Sathrapathi Sivaji Street

Sathrapathi Sivaji Street guideline value

The current guideline value of Sathrapathi Sivaji Street is Rs 1,650 per sq.ft. It is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Sathrapathi Sivaji Street has changed

Looking at the historical revisions, the guideline value for Sathrapathi Sivaji Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in the 2024 revision, reflecting a change of +10%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, showing a significant increase of +49% to the 2023 figure. The 2012 revision also had a value of Rs 1,500 per sq.ft, which indicates a decrease of -33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Sathrapathi Sivaji Street.

• Sathrapathi Sivaji Cross Street: Rs 1,650 per sq.ft (2024)
• Sathiyavani Muthu 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 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, totaling 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 further calculations.

Which Sub Registrar Office covers Sathrapathi Sivaji Street?

The Sub Registrar Office covering Sathrapathi Sivaji Street is 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 critical factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Sathrapathi Sivaji Street?

The current guideline value of Sathrapathi Sivaji 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 2023 to Rs 1,650 per sq.ft in 2024, a change of +10%. It was Rs 1,005 per sq.ft in 2017, showing a +49% increase to the 2023 figure.

What is the land classification for Sathrapathi Sivaji Street?

Sathrapathi Sivaji Street is classified as Residential Class I Type - III, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which office handles property registrations for Sathrapathi Sivaji Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Sathrapathi Sivaji Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.