Guideline Value for Sathyamurthi Street Extension

Sathyamurthi Street Extension guideline value

The current guideline value of Sathyamurthi Street Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

How the guideline value of Sathyamurthi Street Extension has changed

The guideline value for Sathyamurthi Street Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%. The latest revision in 2024 marks a 10% increase from the previous year's value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with 2024 guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Sathyamurthi Street Extension.

• Sathyamurthy Street: Rs 2,200 per sq.ft (2024)
• Sathiyamoorthy 1st Cross st: Rs 1,650 per sq.ft (2024)
• Seevagasindhamani Street: Rs 1,320 per sq.ft (2024)
• Senbagam Street: Rs 1,320 per sq.ft (2024)
• Sannathi St: Rs 1,320 per sq.ft (2024)
• Senthil Murugan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthi Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Therefore, the total cost for stamp duty and registration would be Rs 1,48,500. 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 Sathyamurthi Street Extension?

The Sathyamurthi Street Extension falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This means that the higher of the guideline value or the sale price will be considered for these calculations, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathyamurthi Street Extension?

The current guideline value of Sathyamurthi Street Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase overall. There was a significant rise of 49% from 2017 to 2023.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Sathyamurthi Street Extension?

The Tambaram Joint 1 Sub Registrar Office covers Sathyamurthi Street Extension, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Sathyamurthi Street Extension?

The land classification for Sathyamurthi Street Extension is Residential Class I Type - II, indicating its suitability for residential purposes.