Guideline Value for SATHIYA NAGAR EXTENSION

Sathiya Nagar Extension guideline value

The current guideline value of Sathiya Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Sathiya Nagar Extension has changed

The guideline value for Sathiya Nagar Extension has seen significant changes over the years. In 2002, the guideline value was set at Rs 125 per sq.ft. This figure increased to Rs 375 per sq.ft in 2007, marking a substantial rise of 200%. The value remained unchanged at Rs 2,000 per sq.ft from 2012 until the 2023 revision. The most recent revision in 2024 increased the guideline value to Rs 2,100 per sq.ft, reflecting a 5% increase from the previous year.

Notably, the guideline value experienced a remarkable increase of 433% from 2007 to 2012, and it has risen by a total of 1580% from 2002 to 2024. There are no figures available in the register for the years 2003 and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the current value of Sathiya Nagar Extension below this median.

• Sathiya Nagar: Rs 2,100 per sq.ft (2024)
• Sasthiri Square: Rs 1,600 per sq.ft (2024)
• Sastha Nagar Annex: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 4th STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 3rd STREET: Rs 2,700 per sq.ft (2024)
• SASTHA NAGAR 2nd STREET: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, while the registration fee at 2% would be Rs 42,000, bringing the total cost for these fees to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sathiya Nagar Extension?

The Sub Registrar Office that covers Sathiya Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

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

When a property is registered, the guideline value ensures that the government receives appropriate revenue from property transactions. Buyers and sellers must be aware of this value to understand the financial implications during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sathiya Nagar Extension?

The current guideline value of Sathiya Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 125 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, marking an overall increase of 1580%.

What are the stamp duty and registration fees for property in Sathiya Nagar Extension?

For a property valued at Rs 21,00,000, the stamp duty is Rs 1,47,000 and the registration fee is Rs 42,000, totaling Rs 1,89,000.

Which Sub Registrar Office covers Sathiya Nagar Extension?

The Villivakkam Sub Registrar Office covers Sathiya Nagar Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Sathiya Nagar Extension?

The land classification for Sathiya Nagar Extension is Residential Class III Type - I.