Guideline Value for Sathyamoorthy Street (Ward-29)

Sathyamoorthy Street (Ward-29) guideline value

The current guideline value of Sathyamoorthy Street (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Sathyamoorthy Street (Ward-29) has changed

The guideline value for Sathyamoorthy Street (Ward-29) has seen revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. The most recent revision in 2024 increased this to Rs 1,300 per sq.ft, reflecting an increase of 8% from the previous figure.

There are no recorded guideline values for Sathyamoorthy Street (Ward-29) in the years 2002, 2003, 2007, 2017, and 2023. The only revisions available are from 2012 and 2024.

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 in this area is Rs 1,600 per sq.ft, which means Sathyamoorthy Street (Ward-29) is below the median value.

• 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, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy 2nd cross St (Ward No.22): 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 Street (Ward-29)

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. Together, the total cost for these fees would be Rs 1,17,000. 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 Sathyamoorthy Street (Ward-29)?

The Sub Registrar Office that covers Sathyamoorthy Street (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sathyamoorthy Street (Ward-29)?

The current guideline value of Sathyamoorthy Street (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no recorded values for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Sathyamoorthy Street (Ward-29)?

Sathyamoorthy Street (Ward-29) is classified as Residential Class III Type - I under the Madhavaram SRO.

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

The stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,17,000 in fees.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.