Guideline Value for SATHYASAI SABABATHI NAGAR (WARD -15)

Sathyasai Sababathi Nagar (Ward -15) guideline value

The current guideline value of Sathyasai Sababathi Nagar (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO with a land classification of Residential Class II Type - II.

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

The guideline value for Sathyasai Sababathi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In 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 value for these streets is Rs 990 per sq.ft, making the 2024 figure for Sathyasai Sababathi Nagar below that median.

• Sathyasai Nagar (Ward -15): Rs 660 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)
• Sathiyasai 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 Sababathi Nagar (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

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

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

The guideline value is an essential reference point during the registration of property transactions in Panangottur. It helps determine the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, it is crucial to consider the guideline value as it reflects the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the applicable fees and taxes, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Sathyasai Sababathi Nagar (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft in 2024.

What is the land classification of Sathyasai Sababathi Nagar?

Sathyasai Sababathi Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

What is the registration office for Sathyasai Sababathi Nagar?

The registration office for Sathyasai Sababathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Sathyasai Sababathi Nagar?

Stamp duty in Sathyasai Sababathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.