Guideline Value for SATHYA NAGAR 3RD STREET

Sathya Nagar 3rd Street guideline value

The current guideline value of Sathya Nagar 3rd 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 3rd Street has changed

The guideline value for Sathya Nagar 3rd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 467 per sq.ft. It increased to Rs 539 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, which was a 30% change. In 2012, the guideline value was Rs 4,200 per sq.ft, reflecting a substantial increase of 500% from the previous revision. However, it dropped to Rs 2,814 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 4,200 per sq.ft in 2023, and finally, it reached Rs 4,620 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 889%. The register has no figure for the years not mentioned in the revisions.

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 guideline value of Sathya Nagar 3rd Street.

• Sathya Nagar 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,620 per sq.ft, the guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, totaling Rs 4,15,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathya Nagar 3rd Street?

The Sub Registrar Office that covers Sathya Nagar 3rd 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 when registering property transactions in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties. This means that the higher of the guideline value and the sale price will be taken into account for the calculation of stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathya Nagar 3rd Street?

The current guideline value of Sathya Nagar 3rd 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, representing an overall increase of 889% over the years.

What is the stamp duty rate for properties in Sathya Nagar 3rd Street?

The stamp duty rate for properties in Sathya Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Chennai South Joint I Sub Registrar Office at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the guideline values of other streets in Ekkaduthangal?

Other streets in Ekkaduthangal have varying guideline values. For example, Sathya Nagar 2nd Street and Sathya Nagar Ist Street both have a guideline value of Rs 4,620 per sq.ft, while Sathyamurthy Nagar has a value of Rs 3,520 per sq.ft.