Guideline Value for Sathiya Nagar

Sathiya Nagar guideline value

The current guideline value of Sathiya Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under Parvatharajapuram village and is classified as Residential Class I Type - I. The property registration for this locality is managed by the Poonamallee Sub Registrar Office.

How the guideline value of Sathiya Nagar has changed

The guideline value of Sathiya Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 400 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, in 2023, the value increased significantly to Rs 400 per sq.ft, and further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2023, the guideline value saw an overall increase of 49%, moving from Rs 400 per sq.ft to Rs 400 per sq.ft. The latest revision in 2024 marks a 10% increase from the 2023 value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Sathiya Nagar.

Guideline values in Parvatharajapuram

Sathiya Nagar is part of the Parvatharajapuram village, which has other streets under the Poonamallee SRO. Currently, the guideline value for Anna Nagar is also Rs 440 per sq.ft as per the 2024 revision. Below are other streets in Parvatharajapuram:

• Anna Nagar: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, these fees amount to Rs 39,600. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiya Nagar?

The Sathiya Nagar area is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Parvatharajapuram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. These fees are calculated based on the higher of the guideline value or the actual sale price of the property.

It is essential for buyers and sellers to be aware of the current guideline value to ensure accurate financial planning during property transactions. Understanding these values helps in making informed decisions and complying with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sathiya Nagar?

The current guideline value of Sathiya Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 39,600.

Which Sub Registrar Office covers Sathiya Nagar?

The Poonamallee Sub Registrar Office covers Sathiya Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

Are there other streets with guideline values in Parvatharajapuram?

Yes, other streets in Parvatharajapuram include Anna Nagar, which has a guideline value of Rs 440 per sq.ft as per the 2024 revision.