Guideline Value for Sathyamoorthy 2nd cross St ( Ward No.22 )

Sathyamoorthy 2nd cross St ( Ward No.22 ) guideline value

The current guideline value of Sathyamoorthy 2nd cross St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sathyamoorthy 2nd cross St ( Ward No.22 ) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The changes between the revisions highlight a steady value for several years followed by a recent increase.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Sathyamoorthy 2nd cross St's 2024 figure is below this median.

• Sathyamoorthy St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy Street (Ward-29): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st ( Ward No.10 ): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Sathiya Raj Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamoorthy 2nd cross St ( Ward No.22 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathyamoorthy 2nd cross St ( Ward No.22 )?

The Sathyamoorthy 2nd cross St ( Ward No.22 ) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value to understand the financial implications of the transaction. It is essential for accurate budgeting and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sathyamoorthy 2nd cross St ( Ward No.22 )?

The current guideline value of Sathyamoorthy 2nd cross St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8%.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, while Sathyamoorthy 2nd cross St's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Sathyamoorthy 2nd cross St?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for Sathyamoorthy 2nd cross St?

The Madhavaram Sub Registrar Office, which covers Sathyamoorthy 2nd cross St, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.