Guideline Value for SRI SATHYA NAGAR

Sri Sathya Nagar guideline value

The current guideline value of Sri Sathya Nagar in Thammanur village is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Walajabad Sub Registrar Office and is classified as Residential Special Type - I.

How the guideline value of Sri Sathya Nagar has changed

Over the years, the guideline value for Sri Sathya Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 300 per sq.ft again in 2023. The 2024 revision also maintains this figure, showing no change from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is 0%, indicating stability in the price over this period. The fluctuations between revisions highlight how the value has adapted over time, particularly the jump from Rs 201 per sq.ft in 2017 back to Rs 300 per sq.ft in 2023 and 2024.

Guideline values in Thammanur

In Thammanur, there are 16 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 448 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which is equal to the guideline value of Sri Sathya Nagar.

• Sri Sai City: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 150 per sq.ft (2024)
• Solar Nagar: Rs 300 per sq.ft (2024)
• Vettri Nagar Pase-1: Rs 150 per sq.ft (2024)
• Rishi Nagar: Rs 150 per sq.ft (2024)
• Walajabad Co -Operative Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathya Nagar?

Sri Sathya Nagar is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Thammanur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall financial implications of the transaction. Buyers should factor in these costs when budgeting for their property purchases.

Frequently asked questions

What is the current guideline value of Sri Sathya Nagar?

The current guideline value of Sri Sathya Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2023, with a significant increase of 49% from Rs 201 per sq.ft in 2017. The value was also Rs 300 per sq.ft in the 2012 revision.

What is the land classification for Sri Sathya Nagar?

Sri Sathya Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sri Sathya Nagar?

The registration office for Sri Sathya Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for property in Sri Sathya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.