Guideline Value for SATHYAVATHY NAGAR 1ST STREET

Sathyavathy Nagar 1st Street guideline value

The current guideline value of Sathyavathy Nagar 1st Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Sathyavathy Nagar 1st Street has changed

Over the years, the guideline value for Sathyavathy Nagar 1st Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,400 per sq.ft, which is an increase from Rs 3,100 per sq.ft in 2023, marking a change of +10%. Prior to that, the guideline value was Rs 2,077 per sq.ft in 2017, reflecting a significant increase of +49% from that year to 2023. The 2012 revision had the value at Rs 3,100 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register does not have figures for the years 2002, 2003, and 2007 for this street. The last recorded figures before 2012 were not available in the register.

Guideline values in Padi

In Padi, 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 guideline value for these streets is Rs 3,800 per sq.ft, placing Sathyavathy Nagar 1st Street's 2024 figure below that median.

• Sathyavathy Nagar: 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)
• Sathyamurthy Colony (Near Thiruvalleswarar Nagar): Rs 5,400 per sq.ft (2024)
• School Road: Rs 9,700 per sq.ft (2024)
• Sathiya Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyavathy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, while the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sathyavathy Nagar 1st Street?

The Sub Registrar Office that covers Sathyavathy Nagar 1st Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Padi. It is used to determine the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value serves as a benchmark for these fees.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the fees reflect the current market conditions as represented by the guideline value.

Frequently asked questions

What is the current guideline value of Sathyavathy Nagar 1st Street?

The current guideline value of Sathyavathy Nagar 1st Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, an increase of +10%. It was Rs 2,077 per sq.ft in 2017, showing a +49% increase to 2023.

What is the land classification of Sathyavathy Nagar 1st Street?

The land classification for Sathyavathy Nagar 1st Street is Residential Class IV Type - II.

What are the stamp duty and registration fees for property in Sathyavathy Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 34,00,000. The stamp duty at 7% is Rs 2,38,000, and the registration fee at 2% is Rs 68,000, totaling Rs 3,06,000.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers Sathyavathy Nagar 1st Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.