Guideline Value for SATHANDAPURAM NEW COLONY

Sathandapuram New Colony guideline value

The current guideline value of Sathandapuram New Colony is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the jurisdiction of the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Sathandapuram New Colony has changed

Over the years, the guideline value of Sathandapuram New Colony has seen significant changes. The earliest available revision is from 2007, which set the value at Rs 600 per sq.ft. This figure increased dramatically to Rs 2,600 per sq.ft in 2012, marking a rise of 333%. However, from 2012 to 2017, the value decreased to Rs 1,742 per sq.ft, a decline of 33%. The value then rose again to Rs 2,600 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, an increase of 8% from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which means that Sathandapuram New Colony's 2024 figure is below that median.

• Saravana Nagar: Rs 1,500 per sq.ft (2024)
• Saraswathipuram: Rs 1,500 per sq.ft (2024)
• Saraswathi Nagar: Rs 1,500 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)
• Selvavinayagar Koil Street: Rs 1,900 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sathandapuram New Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sathandapuram New Colony?

The Sathandapuram New Colony is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathandapuram New Colony?

The current guideline value of Sathandapuram New Colony is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 2,800 per sq.ft in 2024, marking an overall increase of 367%.

What are the stamp duty and registration fees for properties in Sathandapuram New Colony?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Sathandapuram New Colony?

The Thiruvottiyur Sub Registrar Office covers Sathandapuram New Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Sathandapuram New Colony?

Sathandapuram New Colony is classified as Residential Special Type - III, which indicates its designated use for residential purposes.