Guideline Value for Sathya Narayana Street

Sathya Narayana Street guideline value

The current guideline value of Sathya Narayana Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Sathya Narayana Street has changed

The guideline value for Sathya Narayana Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as per the 2024 revision. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw a further increase of 9%. The overall change from 2007 to 2024 is a substantial increase of 513%, reflecting the evolving property landscape in the area.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current guideline value of Sathya Narayana Street.

• Sathiyapuri Huts: Rs 2,200 per sq.ft (2024)
• Sathiya Murthy Salai: Rs 3,300 per sq.ft (2024)
• School 1 to 7 Cross Street: Rs 4,400 per sq.ft (2024)
• School Street (Jafferkhanpettai): Rs 4,400 per sq.ft (2024)
• Sasthiri Street: Rs 2,200 per sq.ft (2024)
• Sarvamangala Colony Block 31: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Narayana Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. 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 Sathya Narayana Street?

The Sub Registrar Office that covers Sathya Narayana Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in calculating the taxes owed to the government. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to determine the applicable fees.

Frequently asked questions

What is the current guideline value of Sathya Narayana Street?

The current guideline value of Sathya Narayana Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 513% over the years.

What is the land classification for Sathya Narayana Street?

The land classification for Sathya Narayana Street is Residential Class III Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000, with a stamp duty of Rs 3,43,000 and a registration fee of Rs 98,000, totaling Rs 4,41,000.

Where can I find the Sub Registrar Office for Sathya Narayana Street?

The Sub Registrar Office for Sathya Narayana Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.