Guideline Value for Sattanna naicken street

Sattanna naicken street guideline value

The current guideline value of Sattanna naicken street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Sattanna naicken street has changed

The guideline value for Sattanna naicken street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,200 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 275%. However, it then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. From 2017 to 2023, the value surged to Rs 4,500 per sq.ft, an increase of 49%, before reaching the current figure of Rs 4,800 per sq.ft in the 2024 revision, which is a 7% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with the median value being Rs 4,800 per sq.ft. Sattanna naicken street's 2024 figure aligns with this median.

• Sathyavani Muthu nagar: Rs 2,700 per sq.ft (2024)
• Sastri Nagar: Rs 4,400 per sq.ft (2024)
• Santhur Street: Rs 2,700 per sq.ft (2024)
• Sami pillai street: Rs 7,000 per sq.ft (2024)
• Saminathan Kiramani lane: Rs 4,800 per sq.ft (2024)
• Sami nathan Gramani Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sattanna naicken street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, while the registration fee at 2% would be Rs 96,000, bringing the total fees together to Rs 4,32,000. Please 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 details.

Which Sub Registrar Office covers Sattanna naicken street?

The Sub Registrar Office that covers Sattanna naicken street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vepery. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property in Vepery, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure that the property value is in line with the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sattanna naicken street?

The current guideline value of Sattanna naicken street is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, representing an overall increase of 300%.

What are the other streets in Vepery with their guideline values?

Other streets in Vepery include Sathyavani Muthu nagar at Rs 2,700 per sq.ft, Sastri Nagar at Rs 4,400 per sq.ft, and Sami pillai street at Rs 7,000 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Sattanna naicken street?

The stamp duty for a property valued at Rs 48,00,000 is Rs 3,36,000, and the registration fee is Rs 96,000, totaling Rs 4,32,000.

Which office handles the registration of properties in Sattanna naicken street?

The Periamet Sub Registrar Office handles the registration of properties in Sattanna naicken street, located at 1103, Poonamallee High Road, Chennai-600 003.