Guideline Value for Sathyamoorthy Street

Sathyamoorthy Street guideline value

The current guideline value of Sathyamoorthy Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village and falls under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Sathyamoorthy Street has changed

The guideline value for Sathyamoorthy Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,700 per sq.ft. This figure decreased to Rs 2,479 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded significantly to Rs 3,700 per sq.ft in 2023, and further increased to Rs 4,000 per sq.ft in the 2024 revision, reflecting an overall increase of 8% from 2012 to 2024. Notably, the register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, there was a remarkable increase of 49%. The latest revision in 2024 represents an 8% increase from the previous year, 2023. This consistent adjustment indicates the changing valuation of properties in the area.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Sathyamoorthy Street's 2024 figure above the median.

• Sathyanarayana Street: Rs 4,600 per sq.ft (2024)
• Sathyapuram 1st Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram 2nd Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram Main Street: Rs 1,600 per sq.ft (2024)
• Saraswathi Pandurangan Street: Rs 4,600 per sq.ft (2024)
• Seenivasan Street (Ramapuram): Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamoorthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value would be Rs 40,00,000. The stamp duty at 7% would amount to Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total cost for these fees to Rs 3,60,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathyamoorthy Street?

The Sub Registrar Office covering Sathyamoorthy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ambattur. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is documented at a value that reflects the government's assessment of the property’s worth.

Frequently asked questions

What is the current guideline value of Sathyamoorthy Street?

The current guideline value of Sathyamoorthy Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What are the other streets in Ambattur and their guideline values?

Other streets in Ambattur include Sathyanarayana Street at Rs 4,600 per sq.ft, Sathyapuram 1st Street, 2nd Street, and Main Street at Rs 1,600 per sq.ft each, Saraswathi Pandurangan Street at Rs 4,600 per sq.ft, and Seenivasan Street (Ramapuram) at Rs 3,600 per sq.ft.

What is the stamp duty for property on Sathyamoorthy Street?

The stamp duty for property on Sathyamoorthy Street is 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000.

Where can I find the Sub Registrar Office for Sathyamoorthy Street?

The Sub Registrar Office for Sathyamoorthy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.