Guideline Value for Sathyanarayana Avenue

Sathyanarayana Avenue guideline value

The current guideline value of Sathyanarayana Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it is classified as Commercial Special Type - III.

How the guideline value of Sathyanarayana Avenue has changed

The guideline value for Sathyanarayana Avenue has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 12,000 per sq.ft, which increased by 10% to Rs 13,200 per sq.ft in the 2024 revision.

Prior to the 2023 revision, the guideline value had not been recorded for this street in the earlier years mentioned. The increase from Rs 12,000 to Rs 13,200 reflects a notable adjustment in the valuation for this area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Sathyanarayana Avenue's 2024 guideline value is above this median.

• Sathasivam 2nd Street: Rs 8,700 per sq.ft (2024)
• Sathasivam 1st Street: Rs 8,700 per sq.ft (2024)
• Seethamma Cross Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st Cross Street: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 1st MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony 2nd, 3rd Cross Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyanarayana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 to estimate your costs.

Which Sub Registrar Office covers Sathyanarayana Avenue?

The Sub Registrar Office that covers Sathyanarayana Avenue is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical component in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the associated duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sathyanarayana Avenue?

The current guideline value of Sathyanarayana Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification of Sathyanarayana Avenue?

Sathyanarayana Avenue is classified as Commercial Special Type - III under the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for property in Sathyanarayana Avenue?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for Sathyanarayana Avenue?

The Chennai Central Joint I Sub Registrar Office handles registrations for Sathyanarayana Avenue, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.