Guideline Value for SATHIYA NARAYANA NAGAR

Sathiya Narayana Nagar guideline value

The current guideline value of Sathiya Narayana Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Venkatapuram village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sathiya Narayana Nagar has changed

The guideline value for Sathiya Narayana Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a substantial rise of 700%. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose again to Rs 400 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has increased by 700%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is the same as the current guideline value for Sathiya Narayana Nagar.

• Sapthagiri Nagar: Rs 400 per sq.ft (2024)
• Sairam Nagar Extn: Rs 500 per sq.ft (2024)
• Sairam Nagar Extension II: Rs 1,200 per sq.ft (2024)
• Sairam Nagar: Rs 500 per sq.ft (2024)
• Rajesh Nagar: Rs 400 per sq.ft (2024)
• Rainbow Garden: Rs 1,344 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. 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 further calculations.

Which Sub Registrar Office covers Sathiya Narayana Nagar?

The Sathiya Narayana Nagar area falls under the jurisdiction of the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that all transactions are conducted transparently and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sathiya Narayana Nagar?

The current guideline value of Sathiya Narayana Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007, reaching Rs 400 per sq.ft in 2012, dropping to Rs 268 per sq.ft in 2017, and then returning to Rs 400 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Sathiya Narayana Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Sathiya Narayana Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price at which properties can be registered, affecting the stamp duty and registration fees. It ensures transparency and compliance in property transactions.