Guideline Value for Sathyanarayana Street

Sathyanarayana Street guideline value

The current guideline value of Sathyanarayana Street is Rs 4,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village and falls under the Ambattur SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Sathyanarayana Street has changed

The guideline value for Sathyanarayana Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,200 per sq.ft, which was then reduced to Rs 2,814 per sq.ft in the 2017 revision. This represents a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 4,200 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 4,600 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Sathyanarayana Street's 2024 figure above this median.

• Sathyapuram 1st Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram 2nd Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram Main Street: Rs 1,600 per sq.ft (2024)
• Sathyamoorthy Street: Rs 4,000 per sq.ft (2024)
• Seenivasan Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Saraswathi Pandurangan Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyanarayana Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, totaling Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sathyanarayana Street?

The Sub Registrar Office that covers Sathyanarayana Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it helps determine the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications during the property transfer process.

When a property is sold, the guideline value serves as a benchmark for the transaction. It is essential for both parties to be aware of this value to facilitate a smooth registration process and to ensure that the correct fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sathyanarayana Street?

The current guideline value of Sathyanarayana Street is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2012 to Rs 2,814 per sq.ft in 2017, then back to Rs 4,200 per sq.ft in 2023, and finally to Rs 4,600 per sq.ft in 2024.

What is the land classification for Sathyanarayana Street?

The land classification for Sathyanarayana Street is Mixed Type - I.

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

The Sub Registrar Office for Sathyanarayana Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000 at a rate of 7%.