Guideline Value for Sathiyamurthy Nagar

Sathiyamurthy Nagar guideline value

The current guideline value of Sathiyamurthy Nagar is Rs 1,300 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 III Type - I.

How the guideline value of Sathiyamurthy Nagar has changed

In the 2023 revision, the guideline value was Rs 1,200 per sq.ft. This represents an increase of 8% to the current guideline value of Rs 1,300 per sq.ft in the 2024 revision. The register has no figures for the revisions in 2002, 2003, 2007, 2012, and 2017 for this street.

The only revisions available for Sathiyamurthy Nagar are from 2023 and 2024. The current value reflects an upward adjustment from the previous year, indicating a notable change in the guideline value.

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, with a median value of Rs 1,600 per sq.ft. Sathiyamurthy Nagar's 2024 figure is below this median.

• Sathiyamurthy Street: Rs 1,300 per sq.ft (2024)
• Sathiya Nagar: Rs 1,300 per sq.ft (2024)
• Sathiya Raj Nagar: Rs 1,600 per sq.ft (2024)
• Sastri Nagar (Ward-02): Rs 2,700 per sq.ft (2024)
• Sastri Nagar (Ward-01): Rs 2,700 per sq.ft (2024)
• Sastri Nagar Ext,Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyamurthy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathiyamurthy Nagar?

The Sub Registrar Office that covers Sathiyamurthy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor during property registration in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the prevailing rates.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sathiyamurthy Nagar?

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

How has the guideline value changed over the years?

The guideline value for Sathiyamurthy Nagar was Rs 1,200 per sq.ft in 2023, which increased by 8% to Rs 1,300 per sq.ft in 2024. The register has no figures for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sathiyamurthy Nagar?

Sathiyamurthy Nagar is classified as Residential Class III Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Sathiyamurthy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.