Guideline Value for SATHYAVATHY NAGAR

Sathyavathy Nagar guideline value

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

How the guideline value of Sathyavathy Nagar has changed

Over the years, the guideline value for Sathyavathy Nagar has seen several revisions. The 2012 revision recorded a value of Rs 3,100 per sq.ft, which then decreased to Rs 2,077 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 3,100 per sq.ft in 2023, and then further rose to Rs 3,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. The register has no figures for Sathyavathy Nagar for the years 2002, 2003, and 2007.

Guideline values in Padi

In Padi village, the guideline values for the 2024 revision range from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Sathyavathy Nagar is below this median.

• Sathyavathy Nagar 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty, charged at 7%, would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sathyavathy Nagar?

The Sub Registrar Office that covers Sathyavathy Nagar 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 details.

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

When buying or selling property in Padi, the guideline value serves as a benchmark for determining the stamp duty and registration fees. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure that the correct fees are calculated during the registration process.

The guideline value is also used by the registration office to assess the property's worth for taxation purposes. This ensures that all transactions are conducted fairly and transparently, adhering to the established regulations.

Frequently asked questions

What is the current guideline value of Sathyavathy Nagar?

The current guideline value of Sathyavathy Nagar 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 2012 to Rs 2,077 per sq.ft in 2017, then increased to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024.

What is the land classification of Sathyavathy Nagar?

Sathyavathy Nagar is classified under Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Sathyavathy Nagar?

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

What are the stamp duty and registration fees for properties in Sathyavathy Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 34,00,000 would incur a total fee of Rs 3,06,000.