Guideline Value for Sathyamurthy Street

Sathyamurthy Street guideline value

The current guideline value of Sathyamurthy Street in Zaminpallavaram village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Sathyamurthy Street has changed

The guideline value for Sathyamurthy Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 303 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a change of +98%. In 2012, the value rose to Rs 2,000 per sq.ft, reflecting a substantial increase of +233%. However, in 2017, it dropped to Rs 1,340 per sq.ft, a decrease of -33%. The value then climbed to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,160 per sq.ft in 2024, which is an increase of +8%.

Overall, from 2003 to 2024, the guideline value has increased by +613%. Notably, the register does not contain figures for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, placing Sathyamurthy Street's 2024 figure below this median.

• Sasthiri Colony 2nd Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony 1st Street 1 To 4 Lanes: Rs 2,750 per sq.ft (2024)
• Sasthiri Colony: Rs 2,750 per sq.ft (2024)
• School Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. 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?

The Sub Registrar Office that covers Sathyamurthy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the associated fees.

When a property is sold, the registration office uses the guideline value to assess the applicable stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the local government.

Frequently asked questions

What is the current guideline value of Sathyamurthy Street?

The current guideline value of Sathyamurthy Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 303 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, showing an overall increase of +613% over this period.

What are the stamp duty and registration fees for properties on Sathyamurthy Street?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office handles registrations for Sathyamurthy Street?

The Pallavaram Sub Registrar Office handles registrations for Sathyamurthy Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft as of 2024, which is higher than the current value of Sathyamurthy Street.