Guideline Value for Sathiyavani Muthu Nagar

Sathiyavani Muthu Nagar guideline value

The current guideline value of Sathiyavani Muthu Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sathiyavani Muthu Nagar has changed

The guideline value of Sathiyavani Muthu Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 1,500 per sq.ft in 2023, and further increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

The revisions from 2017 to 2023 saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 313%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Sathiyavani Muthu Nagar's 2024 figure below this median.

• Saraswathy Nagar: Rs 3,300 per sq.ft (2024)
• Saraswathi Vidyalaya School Street: Rs 1,650 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyavani Muthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Therefore, the total cost for stamp duty and registration would be Rs 1,48,500. 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 more details.

Which Sub Registrar Office covers Sathiyavani Muthu Nagar?

The Sub Registrar Office that covers Sathiyavani Muthu Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value influences the overall cost involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, impacting the total financial commitment required for the transaction.

Frequently asked questions

What is the current guideline value of Sathiyavani Muthu Nagar?

The current guideline value of Sathiyavani Muthu Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,650 per sq.ft in 2024, with notable changes in various revisions.

What is the land classification for Sathiyavani Muthu Nagar?

Sathiyavani Muthu Nagar is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Sathiyavani Muthu Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sathiyavani Muthu 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 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.