Guideline Value for Sathiya Nagar Second Main Road

Sathiya Nagar Second Main Road guideline value

The current guideline value of Sathiya Nagar Second Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Mugappair village and falls under the Konnur SRO with a land classification of Residential Class I Type - I.

How the guideline value of Sathiya Nagar Second Main Road has changed

The guideline value for Sathiya Nagar Second Main Road has seen several revisions over the years. Starting from Rs 1,500 per sq.ft in 2007, it increased significantly to Rs 5,000 per sq.ft in 2012. However, it then dropped to Rs 3,350 per sq.ft in 2017 before rising again to Rs 5,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 233% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mugappair

Mugappair consists of 224 streets under the Konnur SRO, with guideline values 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, indicating that the guideline value of Sathiya Nagar Second Main Road is below this median.

• Sathiya Nagar First and Second Street: 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 Second Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sathiya Nagar Second Main Road?

The Sub Registrar Office that covers Sathiya Nagar Second Main Road 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 plays a crucial role in the registration process of property transactions in Mugappair. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue based on the established guideline values.

When registering a property, the buyer must pay the stamp duty on the higher of the guideline value or the sale price. This helps maintain transparency and standardization in property transactions across the region.

Frequently asked questions

What is the current guideline value of Sathiya Nagar Second Main Road?

The current guideline value of Sathiya Nagar Second Main Road 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 from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Sathiya Nagar Second Main Road?

Sathiya Nagar Second Main Road is classified as Residential Class I Type - I under the Konnur SRO.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Sathiya Nagar Second Main Road is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sathiya Nagar Second Main Road?

The Konnur Sub Registrar Office, which covers Sathiya Nagar Second Main Road, is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.