Guideline Value for Sathyamurthy Street

Sathyamurthy Street guideline value

The current guideline value of Sathyamurthy Street in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Sathyamurthy Street has changed

Over the years, the guideline value of Sathyamurthy Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. This was a decrease of 33%. However, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Sathyamurthy Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Sathyamurthy Street's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Sathyamurthi Street Extension: Rs 1,650 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 Sathyamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 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 information.

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

The guideline value plays a crucial role in property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value ensures that the transaction is recorded accurately and fairly in the official records.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathyamurthy Street?

The current guideline value of Sathyamurthy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sathyamurthy Street?

Sathyamurthy Street is classified as Residential Special Type - I under the Tambaram Joint 1 SRO.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Sathyamurthy Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.