Guideline Value for Sathyamoorthy st ( Ward No.22 )

Sathyamoorthy st ( Ward No.22 ) guideline value

The current guideline value of Sathyamoorthy st ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sathyamoorthy st ( Ward No.22 ) has changed

The guideline value for Sathyamoorthy st ( Ward No.22 ) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which reflects an increase of 8% from the previous year's figure of Rs 1,200 per sq.ft in 2023. Notably, there were no registered figures for this street in the years 2002, 2003, 2007, and 2017. The guideline value remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

Overall, from 2012 to 2024, the guideline value has increased by 8%, moving from Rs 1,200 per sq.ft in 2012 to the current Rs 1,300 per sq.ft. The consistent value from 2012 to 2023 indicates stability in this period, while the recent revision marks a significant change for property transactions in this area.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Sathyamoorthy st ( Ward No.22 ) is below this median value.

• Sathyamoorthy st ( Ward No.10 ): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy Street (Ward-29): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy St, Ponniammanmedu (Ward-22): 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 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 amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathyamoorthy st ( Ward No.22 )?

The Sathyamoorthy st ( Ward No.22 ) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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 properties can be registered. When buying or selling a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for taxation purposes.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sathyamoorthy st ( Ward No.22 )?

The current guideline value of Sathyamoorthy 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?

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

What is the land classification for Sathyamoorthy st ( Ward No.22 )?

Sathyamoorthy st ( Ward No.22 ) is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a property valued at Rs 13,00,000, the total charges would be Rs 1,17,000.

Which Sub Registrar Office covers Sathyamoorthy st ( Ward No.22 )?

The Madhavaram Sub Registrar Office covers Sathyamoorthy st ( Ward No.22 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.