Guideline Value for Sathiya Sai Nagar

Sathiya Sai Nagar guideline value

The current guideline value of Sathiya Sai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Sathiya Sai Nagar has changed

The guideline value has undergone several revisions over the years. Starting from Rs 234 per sq.ft in 2002, it increased to Rs 254 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a jump to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure.

Overall, from 2002 to 2024, the guideline value has increased by 840%. Notably, there is no figure available for the year 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Sathiya Sai Nagar's 2024 guideline value is below this median.

• Sasthri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)
• S.B.M. School Road: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiya Sai 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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathiya Sai Nagar?

The Sub Registrar Office that covers Sathiya Sai Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the registration process. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sathiya Sai Nagar?

The current guideline value of Sathiya Sai 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 from Rs 234 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 840% over this period.

What is the registration office for Sathiya Sai Nagar?

The registration office for Sathiya Sai Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sathiya Sai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur include Sasthri Nagar 1st, 2nd, and 3rd Streets, Sasthiri Avenue, S.B.M. School Road, and Sarojini Nagar Extension, with values ranging from Rs 2,200 to Rs 2,700 per sq.ft in 2024.