Guideline Value for Satheesh Nagar

Satheesh Nagar guideline value

The current guideline value of Satheesh Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Satheesh Nagar has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure decreased to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it up to Rs 600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Satheesh Nagar is below this median.

• Saranya Nagar: Rs 1,320 per sq.ft (2024)
• Sekkizhar Nagar: Rs 1,320 per sq.ft (2024)
• Selliamman Koil Street: Rs 880 per sq.ft (2024)
• Sai Nagar: Rs 880 per sq.ft (2024)
• Shridi Sai Baba Nagar: Rs 880 per sq.ft (2024)
• Sidco Industrial Area: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Satheesh Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 6,60,000. The stamp duty at 7% amounts to Rs 46,200, and the registration fee at 2% is Rs 13,200, totaling Rs 59,400. It is important to note that the 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 details.

Which Sub Registrar Office covers Satheesh Nagar?

The Sub Registrar Office that covers Satheesh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value is used by the registration department to calculate the applicable fees, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Satheesh Nagar?

The current guideline value of Satheesh Nagar 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 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Satheesh Nagar?

Satheesh Nagar is classified as Residential Class II Type - I under the Padappai SRO.

Where can I find the registration office for Satheesh Nagar?

The registration office for Satheesh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Satheesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.