Guideline Value for Sathya Nagar 2nd Street

Sathya Nagar 2nd Street guideline value

The current guideline value of Sathya Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sathya Nagar 2nd Street has changed

The guideline value for Sathya Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 229 per sq.ft. This increased significantly to Rs 1,250 per sq.ft in 2007, marking a change of +446%. In 2012, the value rose to Rs 2,000 per sq.ft, representing a +60% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of -33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a rise to the current rate of Rs 2,200 per sq.ft in 2024, showing a change of +10%.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +861%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft as of 2024. The median guideline value in this area is Rs 3,900 per sq.ft, positioning Sathya Nagar 2nd Street's 2024 figure below that median.

• Sathya Nagar 3rd street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sathiya Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sathiya Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sekar Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost of duty and fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sathya Nagar 2nd Street?

The Sub Registrar Office that covers Sathya Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official rates set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that transactions reflect the official valuation of the property, safeguarding both buyers and sellers in the process.

Frequently asked questions

What is the current guideline value of Sathya Nagar 2nd Street?

The current guideline value of Sathya Nagar 2nd Street 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 229 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with various increases and decreases over the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, with Sathya Nagar 2nd Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Sathya Nagar 2nd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,98,000.

Which office handles property registrations in Sathya Nagar 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Sathya Nagar 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.