Guideline Value for Sathyapuram 2nd Street

Sathyapuram 2nd Street guideline value

The current guideline value of Sathyapuram 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Sathyapuram 2nd Street has changed

The guideline value for Sathyapuram 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 1,500 per sq.ft in the 2023 revision, and finally to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value of Sathyapuram 2nd Street is below this median.

• Sathyapuram 1st Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram Main Street: Rs 1,600 per sq.ft (2024)
• Sathyanarayana Street: Rs 4,600 per sq.ft (2024)
• Sathyamoorthy Street: Rs 4,000 per sq.ft (2024)
• Seenivasan Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Sekaran Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sathyapuram 2nd Street?

The Sub Registrar Office that covers Sathyapuram 2nd 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 details.

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

The guideline value plays a crucial role when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are necessary for the transaction.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Sathyapuram 2nd Street?

The current guideline value of Sathyapuram 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the registration fee for property in Sathyapuram 2nd Street?

The registration fee is calculated based on the guideline value. For a property valued at Rs 16,00,000, the registration fee at 2% would be Rs 32,000.

Where is the Sub Registrar Office located for Sathyapuram 2nd Street?

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

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate stamp duty and registration fees during property transactions.