Guideline Value for Sathyamurthy Street / Panchayat Colony

Sathyamurthy Street / Panchayat Colony guideline value

The current guideline value of Sathyamurthy Street / Panchayat Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification is Residential Class II Type - II.

How the guideline value of Sathyamurthy Street / Panchayat Colony has changed

The guideline value for Sathyamurthy Street / Panchayat Colony has seen significant changes over the years. In 2002, the guideline value was Rs 227 per sq.ft, which increased to Rs 257 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 360 per sq.ft, reflecting a 40% growth. The 2017 revision set the value at Rs 1,206 per sq.ft, a substantial increase of 235% from 2007. The latest revision in 2024 raised the value to Rs 1,980 per sq.ft, which is a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 772%. It should be noted that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal village, 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, with a median value of Rs 2,090 per sq.ft. The guideline value for Sathyamurthy Street / Panchayat Colony is below this median.

• Sathyamurthy Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Sathyamoorthy Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Sathyamoorthy Street: 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 Sathyamurthy Street / Panchayat Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathyamurthy Street / Panchayat Colony?

The Sub Registrar Office that covers Sathyamurthy Street / Panchayat Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the transaction must be registered at the guideline value or the sale price, whichever is higher.

This value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transfer. Understanding the guideline value helps both buyers and sellers in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sathyamurthy Street / Panchayat Colony?

The current guideline value of Sathyamurthy Street / Panchayat Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 227 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 772% across the years.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal have varying guideline values, with some streets like Sathyamurthy Street / Anna Nagar and Sathyamoorthy Street, V.O.C Nagar both valued at Rs 2,750 per sq.ft in 2024.

What are the fees associated with buying property in Sathyamurthy Street / Panchayat Colony?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sathyamurthy Street / Panchayat Colony?

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