Guideline Value for Satya Garden - Lal Bahadur Sastri Street

Satya Garden - Lal Bahadur Sastri Street guideline value

The current guideline value for Satya Garden - Lal Bahadur Sastri Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Satya Garden - Lal Bahadur Sastri Street has changed

The guideline value for Satya Garden - Lal Bahadur Sastri Street has undergone several revisions over the years. In 2002, the value was Rs 729 per sq.ft, which increased to Rs 796 per sq.ft in 2003, marking a 9% rise. The value then saw a modest increase of 7% to reach Rs 850 per sq.ft in 2007. A significant jump occurred in 2012, where the value rose to Rs 5,000 per sq.ft, reflecting a 488% increase from the previous revision. However, this was followed by a decrease of 33% to Rs 3,350 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49% to Rs 5,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 5,500 per sq.ft. The overall change from 2002 to 2024 reflects an increase of 654%, showcasing the fluctuations in the guideline value over the years.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Satya Garden - Lal Bahadur Sastri Street above this median.

• Satya Garden - Kamaraj Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - M.G.Chakkarapani Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Kakkan Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Nehru Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Gopal Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - V.V. Giri Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Satya Garden - Lal Bahadur Sastri 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, while the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Satya Garden - Lal Bahadur Sastri Street?

The Sub Registrar Office that covers Satya Garden - Lal Bahadur Sastri Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Saligramam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is registered, the guideline value or the sale price is considered, depending on which is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Satya Garden - Lal Bahadur Sastri Street?

The current guideline value for Satya Garden - Lal Bahadur Sastri 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 from Rs 729 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 654% over the years.

What is the land classification for Satya Garden - Lal Bahadur Sastri Street?

The land classification for Satya Garden - Lal Bahadur Sastri Street is Residential Special Type - III.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 5,500 per sq.ft would incur a total guideline value of Rs 55,00,000, leading to specific fees based on this amount.