Guideline Value for SATHANIVEETHI

Sathaniveethi guideline value

The current guideline value of Sathaniveethi is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Sathaniveethi has changed

The guideline value for Sathaniveethi has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintain the guideline value at Rs 600 per sq.ft, showing no change between these two years. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 100%, but then saw a decline of 33% from 2012 to 2017. A significant rise of 199% occurred between 2017 and 2023. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft. The median value for these streets is Rs 401 per sq.ft, placing Sathaniveethi's 2024 figure above this median.

• Shalom Nagar: Rs 602 per sq.ft (2024)
• Pavazhakkara Street: Rs 401 per sq.ft (2024)
• Pattai Street: Rs 401 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Thattara Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Sathaniveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathaniveethi?

The Sub Registrar Office that covers Sathaniveethi is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karunguzhi. It determines the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can vary significantly between different streets.

When registering a property, the higher value between the guideline value and the sale price will be considered for calculating the duties. This ensures that the registration fees reflect the actual market conditions in the area.

Frequently asked questions

What is the current guideline value of Sathaniveethi?

The current guideline value of Sathaniveethi is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, showing an overall increase of 300% over the years.

What are the guideline values of other streets in Karunguzhi?

Other streets in Karunguzhi have varying guideline values, ranging from Rs 401 to Rs 1,000 per sq.ft, with Sathaniveethi's value being above the median of Rs 401 per sq.ft.

What fees are associated with buying property in Sathaniveethi?

When buying property in Sathaniveethi, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sathaniveethi located?

The Sub Registrar Office for Sathaniveethi is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.