Guideline Value for Sathyamoorthy Street, V.O.C Nagar

Sathyamoorthy Street, V.O.C Nagar guideline value

The current guideline value of Sathyamoorthy Street, V.O.C Nagar, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pammal village and is classified as Commercial Class I Type - II within the Pammal SRO.

How the guideline value of Sathyamoorthy Street, V.O.C Nagar has changed

In the 2017 revision, the guideline value for Sathyamoorthy Street was Rs 1,675 per sq.ft. The subsequent 2024 revision increased this value to Rs 2,750 per sq.ft, marking a significant change of +64% over the seven-year period. The register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions with figures are from 2017 and 2024, with the 2024 value being notably higher than the previous one. The substantial increase reflects the current valuation trends in the area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, making Sathyamoorthy Street's 2024 figure above the median.

• Sathyamoorthy Street: Rs 2,750 per sq.ft (2024)
• Sathyamurthy Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Sathyamurthy Street / Panchayat Colony: Rs 1,980 per sq.ft (2024)
• Satesab Lane -Kalayanipuram: Rs 1,760 per sq.ft (2024)
• Sastri Street, Dr.Ambedhar Nagar: Rs 1,980 per sq.ft (2024)
• Sastha Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamoorthy Street, V.O.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sathyamoorthy Street, V.O.C Nagar?

The Sathyamoorthy Street, V.O.C Nagar, falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two amounts is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sathyamoorthy Street, V.O.C Nagar?

The current guideline value of Sathyamoorthy Street, V.O.C Nagar, is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

The guideline value changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, representing an increase of +64% over this period.

What is the land classification for Sathyamoorthy Street?

Sathyamoorthy Street is classified as Commercial Class I Type - II, indicating its commercial usage and potential.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, which means Sathyamoorthy Street's value is above this median.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.