Guideline Value for SATHIYA NAGAR

Sathiya Nagar guideline value

The current guideline value of Sathiya Nagar, located in Padi village under the Villivakkam SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Sathiya Nagar has changed

Since the 2002 revision, the guideline value for Sathiya Nagar has seen significant changes. The value started at Rs 333 per sq.ft in 2002, then increased to Rs 2,300 per sq.ft in 2012, which was a 591% increase. However, it dropped to Rs 1,541 per sq.ft in 2017, marking a decrease of 33%. The value then rose to Rs 2,300 per sq.ft in 2023, followed by a further increase to Rs 2,500 per sq.ft in 2024, reflecting a 9% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2002 to 2024, the guideline value has increased by 651%. It is important to note that the register does not have figures for the years 2003 and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median of Rs 3,800 per sq.ft. Sathiya Nagar's guideline value is below this median.

• Sathiyamurthy Street: Rs 2,500 per sq.ft (2024)
• Sathyamurthy Colony (Near Thiruvalleswarar Nagar): Rs 5,400 per sq.ft (2024)
• Sathyavathy Nagar: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 1st Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 2nd Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 3rd Street: Rs 3,400 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 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to 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 more details.

Which Sub Registrar Office covers Sathiya Nagar?

The Sub Registrar Office that covers Sathiya Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 Padi

The guideline value is a critical factor in the registration process of property transactions in Padi. It serves as the basis for calculating various fees, including stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar is Rs 2,500 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 333 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 651% over the years.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

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.

What is the land classification of Sathiya Nagar?

Sathiya Nagar is classified as Residential Class V Type - I.