Guideline Value for SATHIYA NAGAR

Sathiya Nagar guideline value

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

How the guideline value of Sathiya Nagar has changed

The guideline value for Sathiya Nagar has seen significant changes over the years. In 2002, the value was Rs 115 per sq.ft, which increased dramatically to Rs 900 per sq.ft by 2007, marking a rise of 683%. The value then rose to Rs 2,000 per sq.ft in 2012, reflecting an increase of 122%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2023, which was a notable increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,100 per sq.ft, representing a 5% increase from the previous year.

The register does not have a figure for the year 2003 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, with a median value of Rs 2,500 per sq.ft. Sathiya Nagar's current value is below this median.

• Sathiya Nagar Extension: 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

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, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sathiya Nagar?

The Sathiya Nagar area falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory payments required by the registration department. This helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar 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 115 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 1726% over the years.

What are the stamp duty rates for property transactions in Sathiya Nagar?

The stamp duty for property transactions in Sathiya Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sathiya Nagar?

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

Are there other streets with guideline values in Korattur?

Yes, there are several other streets in Korattur with their own guideline values. For example, Sathiya Nagar Extension has a guideline value of Rs 2,100 per sq.ft, while Sasthiri Square has a value of Rs 1,600 per sq.ft.