Guideline Value for SATHYASAI NAGAR (WARD -15)

Sathyasai Nagar (Ward -15) guideline value

The current guideline value of Sathyasai Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Sathyasai Nagar (Ward -15) has changed

The guideline value for Sathyasai Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase of 10% from Rs 600 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 402 per sq.ft, reflecting a significant increase of 49% from the previous figure of Rs 600 per sq.ft in 2012. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, there has been a 10% increase. The changes in the guideline values over the years highlight the fluctuations within this specific locality.

Guideline values in Panangottur

Within Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the area is Rs 990 per sq.ft, making the current value for Sathyasai Nagar (Ward -15) below this median.

• Sathyasai Sababathi Nagar (Ward -15): Rs 440 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,320 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Sathyasai Nagar (N): Rs 660 per sq.ft (2024)
• School Street (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyasai Nagar (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathyasai Nagar (Ward -15)?

The Sub Registrar Office that covers Sathyasai Nagar (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline values, as they directly impact the financial aspects of property transactions. This transparency helps in maintaining a fair process during the registration of properties.

Frequently asked questions

What is the current guideline value of Sathyasai Nagar (Ward -15)?

The current guideline value of Sathyasai Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, indicating significant fluctuations over the years.

What is the land classification for Sathyasai Nagar?

Sathyasai Nagar is classified as Residential Class I Type - III. This classification is important for understanding the permissible uses of land in the area.

What are the stamp duty rates for property in Sathyasai Nagar?

The stamp duty for property in Sathyasai Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. This office handles the registration of properties in Sathyasai Nagar and surrounding areas.