Guideline Value for SATHYAMURTHY NAGAR

Sathyamurthy Nagar guideline value

The current guideline value of Sathyamurthy Nagar, located in Jelandianpettai village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Sathyamurthy Nagar has changed

The guideline value for Sathyamurthy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sathyamurthy Nagar is equal to this median.

• Sasthiri Street: Rs 1,650 per sq.ft (2024)
• Sarojani Garden: Rs 1,870 per sq.ft (2024)
• Saravanan Street: Rs 1,650 per sq.ft (2024)
• Saravanan Cross Street: Rs 1,650 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Senthamizhil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathyamurthy Nagar?

The Sathyamurthy Nagar area is covered by 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 Jelandianpettai

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

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sathyamurthy Nagar?

The current guideline value of Sathyamurthy Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Sathyamurthy Nagar?

Sathyamurthy Nagar is classified as Residential Class II Type - I.

Which office handles registrations for Sathyamurthy Nagar?

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

How is stamp duty calculated for properties in Sathyamurthy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.