Guideline Value for SATHYAMURTHY NAGAR

Sathyamurthy Nagar guideline value

The current guideline value of Sathyamurthy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sathyamurthy Nagar has changed

The guideline value for Sathyamurthy Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 350 per sq.ft. It increased to Rs 404 per sq.ft in 2003, followed by a rise to Rs 700 per sq.ft in 2007. The value then experienced a significant jump to Rs 3,200 per sq.ft in 2012. However, it decreased to Rs 2,144 per sq.ft in 2017. The value increased again to Rs 3,200 per sq.ft in 2023, and most recently, it has risen to Rs 3,520 per sq.ft in the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 15% increase; from 2003 to 2007, the value rose by 73%; from 2007 to 2012, it increased by 357%; from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and finally, from 2023 to 2024, it rose by 10%. Overall, from 2002 to 2024, the guideline value has increased by 906%.

Guideline values in Ekkaduthangal

Ekkaduthangal village has a total of 190 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Sathyamurthy Nagar's current guideline value below that median.

• Sathya Nagar 2nd Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar 3rd Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar Ist Street: Rs 4,620 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 Sathyamurthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sathyamurthy Nagar?

The Sub Registrar Office that covers Sathyamurthy Nagar 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 online.

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

The guideline value is a crucial factor during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in relation to the market. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property's worth based on the current rates.

Frequently asked questions

What is the current guideline value of Sathyamurthy Nagar?

The current guideline value of Sathyamurthy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 906% over the years.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal for 2024 is Rs 4,620 per sq.ft, with Sathyamurthy Nagar's value being below this median.

What are the stamp duty and registration fees for property in Sathyamurthy Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles the registration for Sathyamurthy Nagar?

The Chennai South Joint I Sub Registrar Office handles the registration for Sathyamurthy Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.