Guideline Value for SATHYAMURTHY COLONY (NEAR THIRUVALLESWARAR NAGAR)

Sathyamurthy Colony (Near Thiruvalleswarar Nagar) guideline value

The current guideline value of Sathyamurthy Colony (Near Thiruvalleswarar Nagar) is Rs 5,400 per sq.ft, effective from 1 July 2024. This area falls under Padi village and is classified as Residential Class III Type - I. The SRO overseeing this locality is the Villivakkam SRO.

How the guideline value of Sathyamurthy Colony (Near Thiruvalleswarar Nagar) has changed

The guideline value for Sathyamurthy Colony has seen several revisions over the years. Starting from Rs 850 per sq.ft in 2007, it increased significantly to Rs 5,000 per sq.ft in 2012, marking a remarkable rise of 488%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently, it increased to Rs 5,400 per sq.ft in 2024, which is an 8% increase from the previous year.

In summary, the guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, resulting in an overall increase of 535%. The revisions for the years 2002 and 2003 do not have figures listed for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, positioning Sathyamurthy Colony above this median.

• Sathiya Nagar: Rs 2,500 per sq.ft (2024)
• Sathiyamurthy Street: Rs 2,500 per sq.ft (2024)
• Sathyavathy Nagar: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 1st Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 2nd Street: Rs 3,400 per sq.ft (2024)
• Sathyavathy Nagar 3rd Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthy Colony (Near Thiruvalleswarar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total cost for these fees to Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathyamurthy Colony (Near Thiruvalleswarar Nagar)?

The Sathyamurthy Colony (Near Thiruvalleswarar Nagar) is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sathyamurthy Colony?

The current guideline value of Sathyamurthy Colony (Near Thiruvalleswarar Nagar) is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, with several revisions in between, including a notable increase of 488% from 2007 to 2012.

What are the stamp duty rates for properties in Sathyamurthy Colony?

The stamp duty for properties in Sathyamurthy Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Padi?

The Villivakkam Sub Registrar Office handles property registrations in Padi, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the classification of land in Sathyamurthy Colony?

Sathyamurthy Colony is classified as Residential Class III Type - I, indicating its use for residential purposes.