Guideline Value for Sathya Avenue

Sathya Avenue guideline value

The current guideline value of Sathya Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Gooduvancheri SRO, classified as Commercial Special Type - I.

How the guideline value of Sathya Avenue has changed

Over the years, the guideline value of Sathya Avenue has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 280 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 329%. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the 2024 revision also holds the same value, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 329%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value of Sathya Avenue.

• Sarvamangala Avenue: Rs 1,200 per sq.ft (2024)
• Saraswathi Garden: Rs 1,200 per sq.ft (2024)
• Santhosh Nagar: Rs 1,200 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,200 per sq.ft (2024)
• Sethuganga Nagar: Rs 1,200 per sq.ft (2024)
• Shagithya Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, charged at 7%, would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sathya Avenue?

The Sub Registrar Office that covers Sathya Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sathya Avenue?

The current guideline value of Sathya Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 280 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and has remained at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification of Sathya Avenue?

Sathya Avenue is classified as Commercial Special Type - I under the Gooduvancheri SRO.

What are the stamp duty and registration fees for property in Sathya Avenue?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Where is the Sub Registrar Office for Sathya Avenue located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.