Guideline Value for Sathiya Nagar

Sathiya Nagar guideline value

The current guideline value of Sathiya Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Sathiya Nagar has changed

The guideline value for Sathiya Nagar has seen significant changes over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 67 per sq.ft. This figure increased to Rs 84 per sq.ft in 2003, marking a 25% rise. Following this, the value surged to Rs 350 per sq.ft in 2007, reflecting a 317% increase. In 2012, the guideline value was recorded at Rs 2,000 per sq.ft, a substantial increase of 471% from the previous revision. However, this value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by a rise to Rs 2,160 per sq.ft in 2024, which is an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3,124%. There are no figures available for the revisions in years other than those listed above for Sathiya Nagar.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. Sathiya Nagar's current guideline value of Rs 2,160 per sq.ft is below this median.

• Self Help Industrial: Rs 2,750 per sq.ft (2024)
• Sinderi Colony: Rs 2,750 per sq.ft (2024)
• Rose Nagar 1 & 2 Main Road: Rs 2,970 per sq.ft (2024)
• Rose Nagar: Rs 2,970 per sq.ft (2024)
• Rajiv Nagar: Rs 2,970 per sq.ft (2024)
• Rajeswari Nagar: Rs 1,320 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 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. 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?

The Sub Registrar Office that covers Sathiya Nagar is 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 Kovilambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction reflects a fair valuation as per the established guidelines.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 67 per sq.ft in 2002 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 3,124% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 21,60,000. The stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Sathiya Nagar?

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

What are the other streets in Kovilambakkam?

Other streets in Kovilambakkam include Self Help Industrial, Sinderi Colony, Rose Nagar 1 & 2 Main Road, Rose Nagar, Rajiv Nagar, and Rajeswari Nagar, with guideline values ranging from Rs 1,320 to Rs 2,970 per sq.ft in 2024.