Guideline Value for Sathyapuram Main Street

Sathyapuram Main Street guideline value

The current guideline value of Sathyapuram Main 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 Main Street has changed

The guideline value for Sathyapuram Main 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 value increased to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The changes between the revisions are notable, with a significant 49% increase from 2017 to 2023, while the 2012 to 2017 period saw a decrease of 33%. 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 carry 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. Sathyapuram Main Street's 2024 guideline value is below this median.

• Sathyapuram 2nd Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram 1st 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 Main 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, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Sathyapuram Main Street?

The Sathyapuram Main Street falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This means that both buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Sathyapuram Main Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has seen fluctuations, with the most recent increase being 7% from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024.

What is the registration fee for property in Sathyapuram Main Street?

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

Which Sub Registrar Office covers Sathyapuram Main Street?

Sathyapuram Main Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.