Guideline Value for Sathiya Nagar 1st Street

Sathiya Nagar 1st Street guideline value

The current guideline value of Sathiya Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

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

The guideline value for Sathiya Nagar 1st Street has undergone several revisions since 2003. The figures are as follows: in 2003, the guideline value was Rs 229 per sq.ft, which increased significantly to Rs 1,250 per sq.ft in 2007. This was followed by a rise to Rs 2,000 per sq.ft in 2012, but then it dropped to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 saw the value increase to Rs 2,000 per sq.ft, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft.

Between these revisions, the changes were notable. From 2003 to 2007, the value increased by 446%, while from 2007 to 2012, it decreased by 33%. The value then rose by 49% from 2017 to 2023 and increased by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 861%. The register has no figure for the year 2002 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, indicating that Sathiya Nagar 1st Street's 2024 guideline value is below this median.

• Sathiya Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sekar Nagar: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. 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 Sathiya Nagar 1st Street?

The Sathiya Nagar 1st Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kottivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the property is registered at a value that reflects the government’s assessment of its worth.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Accurate knowledge of the guideline value can help in budgeting for additional costs associated with property registration.

Frequently asked questions

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

The current guideline value of Sathiya Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 229 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 861% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles transactions in Sathiya Nagar 1st Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles transactions for Sathiya Nagar 1st Street.

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

Sathiya Nagar 1st Street is classified as Residential Class IV Type - II according to the local guidelines.