Guideline Value for Sathiya Nagar First and Second Street

Sathiya Nagar First and Second Street guideline value

The current guideline value of Sathiya Nagar First and Second Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Sathiya Nagar First and Second Street has changed

The guideline value for Sathiya Nagar First and Second Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 361 per sq.ft. This increased to Rs 622 per sq.ft in 2003, marking a change of +72%. The value continued to rise significantly, reaching Rs 1,500 per sq.ft in 2007, which was an increase of +141%. In 2012, the value was Rs 5,000 per sq.ft, a substantial increase of +233% from the previous revision. However, in 2017, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of -33%. The guideline value then rose again to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024, marking an increase of +10%.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +1424%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Sathiya Nagar First and Second Street's 2024 guideline value below that median.

• Sathiya Nagar Second Main Road: Rs 5,500 per sq.ft (2024)
• Sathya Nagar I Main Road and Other Streets: Rs 5,500 per sq.ft (2024)
• Satthallvar Street: Rs 5,500 per sq.ft (2024)
• School 1st and 2nd Street (Near JJ Nagar west Block 7): Rs 7,100 per sq.ft (2024)
• Sedhakkathi Salai: Rs 7,100 per sq.ft (2024)
• Senthamizhl Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Nagar First and Second Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that 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 First and Second Street?

The Sub Registrar Office that covers Sathiya Nagar First and Second Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities use the guideline value to calculate the applicable duties, ensuring that the transaction is documented accurately according to the prevailing rates. This helps maintain transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathiya Nagar First and Second Street?

The current guideline value of Sathiya Nagar First and Second Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 361 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1424% over the years.

What is the land classification for Sathiya Nagar First and Second Street?

Sathiya Nagar First and Second Street is classified as Residential Class I Type - I according to the Konnur SRO guidelines.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Sathiya Nagar First and Second Street located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.