Guideline Value for Sathiya Nagar

Sathiya Nagar guideline value

The current guideline value of Sathiya Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sathiya Nagar has changed

The guideline value for Sathiya Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision, marking an 8% rise. Prior to that, the 2017 revision recorded a guideline value of Rs 804 per sq.ft, reflecting a significant 49% increase to the 2023 figure. The overall change from the 2017 revision to the 2024 revision is 62%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Sathiya Nagar's 2024 figure is below this median.

• Sathiyamurthy Street: Rs 1,300 per sq.ft (2024)
• Sathiyamurthy Nagar: Rs 1,300 per sq.ft (2024)
• Sathiya Raj Nagar: Rs 1,600 per sq.ft (2024)
• Sathyamoorthy 2nd cross St ( Ward No.22): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy Street (Ward-29): Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sathiya Nagar?

The Sathiya Nagar area falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Understanding this value can help in budgeting for additional costs associated with property purchases.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is an overall increase of 62%. The most recent change was an 8% increase from Rs 1,200 per sq.ft in 2023.

Are there any years without a guideline value for Sathiya Nagar?

Yes, the register has no figures for Sathiya Nagar for the years 2002, 2003, 2007, and 2012.

What are the registration fees for property in Sathiya Nagar?

The registration fees for property in Sathiya Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sathiya Nagar located?

The Madhavaram Sub Registrar Office, which covers Sathiya Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.