Guideline Value for Sathiya Raj Nagar

Sathiya Raj Nagar guideline value

The current guideline value of Sathiya Raj Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sathiya Raj Nagar has changed

The guideline value for Sathiya Raj Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Between the 2012 and 2024 revisions, the overall change in the guideline value is also 7%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram village, 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, which is equal to the current figure for Sathiya Raj Nagar.

• Sathiya Nagar: Rs 1,300 per sq.ft (2024)
• Sathiyamurthy Street: Rs 1,300 per sq.ft (2024)
• Sathiyamurthy Nagar: Rs 1,300 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 Raj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers Sathiya Raj Nagar?

The Madhavaram Sub Registrar Office covers Sathiya Raj Nagar. The office is 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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sathiya Raj Nagar?

The current guideline value of Sathiya Raj Nagar is Rs 1,600 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 2012 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the classification of land in Sathiya Raj Nagar?

Sathiya Raj Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Sathiya Raj Nagar?

The stamp duty rate for property transactions in Sathiya Raj Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Sathiya Raj Nagar.