Guideline Value for SATHIYAMOORTHY NAGAR

Sathiyamoorthy Nagar guideline value

The current guideline value of Sathiyamoorthy Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Sathiyamoorthy Nagar has changed

The guideline value for Sathiyamoorthy Nagar has undergone several revisions over the years. The 2007 revision listed the value at Rs 3,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 5,000 per sq.ft in 2023 and further rose to the current rate of Rs 5,500 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 67%, but it then fell by 33% from 2012 to 2017. The value jumped by 49% from 2017 to 2023, and the most recent revision from 2023 to 2024 shows a 10% increase. Overall, from 2007 to 2024, there has been an increase of 83% in the guideline value.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, making the current figure for Sathiyamoorthy Nagar below that median.

• Sarojini Street: Rs 17,600 per sq.ft (2024)
• Saravana Street: Rs 13,200 per sq.ft (2024)
• Sarathy Street: Rs 14,300 per sq.ft (2024)
• Sarangapani Street: Rs 14,300 per sq.ft (2024)
• Seeranipuram: Rs 5,500 per sq.ft (2024)
• Saradambal Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamoorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total cost of Rs 4,95,000 for these fees. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiyamoorthy Nagar?

The Sathiyamoorthy Nagar area falls under the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buyers and sellers agree on a sale price, the registration office will assess the guideline value to calculate applicable fees. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Sathiyamoorthy Nagar?

The current guideline value of Sathiyamoorthy Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What are the other streets in Tnagar with their guideline values?

Other streets in Tnagar include Sarojini Street at Rs 17,600 per sq.ft, Saravana Street at Rs 13,200 per sq.ft, and several others, with values ranging from Rs 4,400 to Rs 27,500 per sq.ft.

What fees are associated with property registration in Sathiyamoorthy Nagar?

When registering property in Sathiyamoorthy Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sathiyamoorthy Nagar?

The Sub Registrar Office covering Sathiyamoorthy Nagar is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.