Guideline Value for Satya Garden - M.G.Chakkarapani Street

Satya Garden - M.G.Chakkarapani Street guideline value

The current guideline value for Satya Garden - M.G.Chakkarapani Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Saligramam village under the Virugambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Satya Garden - M.G.Chakkarapani Street has changed

The guideline value for this street has undergone several revisions over the years. In 2007, the value was Rs 2,174 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a notable decrease to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and most recently, it has been revised to Rs 5,500 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase in the guideline value, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 153% from 2007 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which means that the guideline value for Satya Garden - M.G.Chakkarapani Street is above this median.

• Satya Garden - Lal Bahadur Sastri Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Nehru Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Kamaraj Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - V.V. Giri Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Kakkan Street: Rs 5,500 per sq.ft (2024)
• Satya Garden - Gopal Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Satya Garden - M.G.Chakkarapani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the 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, totaling 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.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Satya Garden - M.G.Chakkarapani Street?

The Sub Registrar Office that covers Satya Garden - M.G.Chakkarapani 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 details.

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

When buying or selling property in Saligramam, the guideline value is a crucial factor during the registration process. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

The guideline value serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value for Satya Garden - M.G.Chakkarapani Street?

The current guideline value for Satya Garden - M.G.Chakkarapani 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 2,174 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 153% over the years.

What is the registration fee for property in this area?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 55,00,000, the registration fee would be Rs 1,10,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Satya Garden - M.G.Chakkarapani Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Saligramam with the same guideline value?

Other streets in Saligramam with the same guideline value of Rs 5,500 per sq.ft include Satya Garden - Lal Bahadur Sastri Street, Satya Garden - Nehru Street, Satya Garden - Kamaraj Street, Satya Garden - V.V. Giri Street, Satya Garden - Kakkan Street, and Satya Garden - Gopal Street.