Guideline Value for Sathiya Nagar

Sathiya Nagar guideline value

The current guideline value of Sathiya Nagar, located in Issa Pallavaram village under the Pallavaram SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Sathiya Nagar has changed

The guideline value for Sathiya Nagar has seen several revisions over the years. In 2003, the value was Rs 129 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007, marking a 210% rise. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33% from the previous revision. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, indicating a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1605%. It is important to note that the register has no figure for Sathiya Nagar for the year 2002.

Guideline values in Issa Pallavaram

Issa Pallavaram village has a range of guideline values across its 110 streets under the Pallavaram SRO, with the 2024 figures ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning Sathiya Nagar's 2024 figure below this median.

• Sate Line: Rs 2,200 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Colony: Rs 2,200 per sq.ft (2024)
• Selaiyur Street: Rs 2,200 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,300 per sq.ft (2024)
• Ranganathan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to 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?

Sathiya Nagar falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Issa Pallavaram. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration of property.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar 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 significantly from Rs 129 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1605% over the years.

What are the stamp duty and registration fees in Sathiya Nagar?

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 office handles registrations for Sathiya Nagar?

The Pallavaram Sub Registrar Office handles registrations for Sathiya Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Sathiya Nagar?

Sathiya Nagar is classified as Residential Class II Type - I, which is relevant for determining the guideline value and other property-related regulations.