Guideline Value for Sathsangam Street

Sathsangam Street guideline value

The current guideline value of Sathsangam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Sathsangam Street has changed

The guideline value for Sathsangam Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision shows a further increase to Rs 2,200 per sq.ft, reflecting a 10% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for Sathsangam Street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Sathsangam Street's 2024 figure below this median.

• Saroj Nagar: Rs 2,200 per sq.ft (2024)
• Sarma layout Main Road: Rs 1,650 per sq.ft (2024)
• Sarathy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathsangam Street?

The Sub Registrar Office covering Sathsangam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during property registration in Madipakkam-1. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation for tax purposes. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathsangam Street?

The current guideline value of Sathsangam 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over these years.

What are the stamp duty and registration fees for properties on Sathsangam Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Sathsangam Street?

The Velacheri Sub Registrar Office handles the registration for Sathsangam Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sathsangam Street?

Sathsangam Street falls under the Residential Class II Type - I land classification.