Guideline Value for SATHIYASAI NAGAR (N)

Sathiyasai Nagar (N) guideline value

The current guideline value of Sathiyasai Nagar (N) in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Sathiyasai Nagar (N) has changed

Over the years, the guideline value of Sathiyasai Nagar (N) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. The value then increased to Rs 600 per sq.ft in the 2023 revision, followed by a rise to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Sathiyasai Nagar (N) below this median.

• Satamangalam Erikarai Street (Ward -15): Rs 440 per sq.ft (2024)
• Sathyasai Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Sathyasai Sababathi Nagar (Ward -15): Rs 440 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,321 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyasai Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyasai Nagar (N)?

The Sub Registrar Office that covers Sathiyasai Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is legally recognized and recorded.

When a property is sold, the guideline value is considered to determine the applicable fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sathiyasai Nagar (N)?

The current guideline value of Sathiyasai Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Sathiyasai Nagar (N)?

Sathiyasai Nagar (N) is classified as Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions in Sathiyasai Nagar (N)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Sathiyasai Nagar (N)?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, handles registrations for Sathiyasai Nagar (N).