Guideline Value for Sathsangam Street

Sathsangam Street guideline value

The current guideline value of Sathsangam Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Porunthavakkam village under the Pallavaram SRO, classified as Residential Class I Type - III.

How the guideline value of Sathsangam Street has changed

The guideline value for Sathsangam Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 407 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a significant rise of 23%. The 2012 revision maintained the value at Rs 2,200 per sq.ft, which was a substantial increase of 340% from the previous revision. However, in 2017, the guideline value dropped to Rs 1,474 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 2,200 per sq.ft in 2023, before reaching the current value of Rs 2,420 per sq.ft in 2024, an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 495%. Notably, the register does not contain a figure for Sathsangam Street for the year 2002.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current value of Sathsangam Street.

• Saraswathi Street: Rs 1,760 per sq.ft (2024)
• Sankaran Street: Rs 2,750 per sq.ft (2024)
• Senthuran Colony: Rs 3,300 per sq.ft (2024)
• Sabari Salai: Rs 3,300 per sq.ft (2024)
• Park Square Street: Rs 1,760 per sq.ft (2024)
• Nehru Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sathsangam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathsangam Street?

The Sub Registrar Office that covers Sathsangam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Porunthavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. Buyers should ensure that the sale price is equal to or higher than the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Sathsangam Street?

The current guideline value of Sathsangam Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 407 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 495% over the years.

What is the land classification of Sathsangam Street?

Sathsangam Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Sathsangam Street?

The Sub Registrar Office for Sathsangam Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sathsangam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 24,20,000, the stamp duty would be Rs 1,69,400.