Guideline Value for Satthallvar Street

Satthallvar Street guideline value

The current guideline value of Satthallvar Street in Mugappair village, under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Satthallvar Street has changed

The guideline value for Satthallvar Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 548 per sq.ft. This increased to Rs 604 per sq.ft in 2003, marking a 10% rise. A significant jump occurred in 2007, where the value rose to Rs 1,500 per sq.ft, reflecting an increase of 148%. The 2012 revision saw the value at Rs 5,000 per sq.ft, which was a 233% increase from the previous revision. However, the 2017 revision decreased the value to Rs 3,350 per sq.ft, showing a decline of 33%. The guideline value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 904%. The register has no figure for revisions in years other than those listed.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Satthallvar Street is below this median.

• Sathya Nagar I Main Road and Other Streets: Rs 5,500 per sq.ft (2024)
• School 1st and 2nd Street (Near JJ Nagar west Block 7): Rs 7,100 per sq.ft (2024)
• Sathiya Nagar Second Main Road: Rs 5,500 per sq.ft (2024)
• Sathiya Nagar First and Second Street: Rs 5,500 per sq.ft (2024)
• Sedhakkathi Salai: Rs 7,100 per sq.ft (2024)
• Senthamizhl Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Satthallvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Satthallvar Street?

The Sub Registrar Office that covers Satthallvar Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps buyers and sellers in negotiating prices and ensuring compliance with local regulations. It is advisable to consult the latest guideline values before proceeding with any transaction.

Frequently asked questions

What is the current guideline value of Satthallvar Street?

The current guideline value of Satthallvar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 548 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 904% over the years.

What is the land classification for Satthallvar Street?

Satthallvar Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties on Satthallvar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000, with stamp duty of Rs 3,85,000 and registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Satthallvar Street?

The Konnur Sub Registrar Office handles the registration for Satthallvar Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.