Guideline Value for SATHYA NAGAR 2ND STREET

Sathya Nagar 2nd Street guideline value

The current guideline value of Sathya Nagar 2nd Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sathya Nagar 2nd Street has changed

The guideline value for Sathya Nagar 2nd Street has seen several revisions over the years. In the 2002 revision, the value was Rs 467 per sq.ft, which increased to Rs 539 per sq.ft in 2003, reflecting a change of +15%. The value further rose to Rs 700 per sq.ft in 2007, marking a significant increase of +30%. The 2012 revision saw the value jump to Rs 4,200 per sq.ft, an increase of +500%. However, in the 2017 revision, the value decreased to Rs 2,814 per sq.ft, showing a decline of -33%. The value then rose again to Rs 4,200 per sq.ft in 2023, before reaching the current rate of Rs 4,620 per sq.ft in 2024, which is an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +889%. There are no figures available for any revisions prior to 2002 or between the listed years.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is equal to the current guideline value of Sathya Nagar 2nd Street.

• Sathya Nagar 3rd Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar Ist Street: Rs 4,620 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 3,520 per sq.ft (2024)
• Sardar Colony Ist Street: Rs 3,080 per sq.ft (2024)
• Sardar Colony 4th Lane: Rs 3,080 per sq.ft (2024)
• Sardar Colony 3rd Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total to Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathya Nagar 2nd Street?

The Sub Registrar Office that covers Sathya Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark to determine the minimum value at which properties can be registered, ensuring that transactions are conducted at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sathya Nagar 2nd Street?

The current guideline value of Sathya Nagar 2nd Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 467 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, showing an overall increase of +889% over the years.

What is the land classification for Sathya Nagar 2nd Street?

The land classification for Sathya Nagar 2nd Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sathya Nagar 2nd Street?

The Sub Registrar Office for Sathya Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Sathya Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 3,23,400.