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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is 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 contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 12,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 13,200 per sq.ft, marking a change of +10% from the previous year.

In summary, the guideline value for Sathyanarayana Avenue has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. This indicates a notable rise in the valuation of properties in this area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 figure of Rs 13,200 per sq.ft 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 rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the transaction legally. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

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 has the guideline value changed over the years?

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

What is the land classification for 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 properties in this area?

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.

Where can I find the Sub Registrar Office for Sathyanarayana Avenue?

The Sub Registrar Office for Sathyanarayana Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.