Guideline Value for Sathuma Nagar(Othavadai)

Sathuma Nagar(Othavadai) guideline value

The current guideline value of Sathuma Nagar(Othavadai) is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Satthankadu village and falls under the Thiruvottiyur SRO. The land classification for this region is Residential Special Type - III.

How the guideline value of Sathuma Nagar(Othavadai) has changed

The guideline value for Sathuma Nagar(Othavadai) has undergone several revisions over the years. In 2002, the guideline value was Rs 272 per sq.ft, which increased to Rs 315 per sq.ft in 2003. The value saw a significant rise to Rs 500 per sq.ft in 2007, followed by an increase to Rs 3,100 per sq.ft in 2012. However, it decreased to Rs 2,077 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,100 per sq.ft in 2023 and a further rise to Rs 3,400 per sq.ft in 2024.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 was 10%. The value saw a remarkable increase of 520% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 1150%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is the same as the current guideline value for Sathuma Nagar(Othavadai).

• Sathangadu High Road (Corner Plots): Rs 3,800 per sq.ft (2024)
• Sathangadu High Road: Rs 3,800 per sq.ft (2024)
• Santhi street(Corner Plots): Rs 3,800 per sq.ft (2024)
• Sannathi Street Kaladipet: Rs 3,800 per sq.ft (2024)
• Seshachala Gramani Street: Rs 3,400 per sq.ft (2024)
• South kinaru street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sathuma Nagar(Othavadai)

For a 1,000 sq.ft plot at the current rate of Rs 3,400 per sq.ft, the guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathuma Nagar(Othavadai)?

The Sub Registrar Office that covers Sathuma Nagar(Othavadai) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

When buying or selling property in Satthankadu, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant.

The guideline value is essential for both buyers and sellers as it provides a benchmark for property transactions. It ensures that the property is valued appropriately for taxation purposes, which is critical for maintaining transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Sathuma Nagar(Othavadai)?

The current guideline value of Sathuma Nagar(Othavadai) is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 272 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 1150% over this period.

What are the stamp duty and registration fees in Sathuma Nagar(Othavadai)?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,06,000, calculated based on the current guideline value of Rs 34,00,000.

Which Sub Registrar Office covers Sathuma Nagar(Othavadai)?

The Thiruvottiyur Sub Registrar Office covers Sathuma Nagar(Othavadai) and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Sathuma Nagar(Othavadai)?

The land classification for Sathuma Nagar(Othavadai) is Residential Special Type - III, indicating its designated use for residential purposes.