Guideline Value for Sathya Nagar 4th Street

Sathya Nagar 4th Street guideline value

The current guideline value of Sathya Nagar 4th 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 4th Street has changed

The guideline value of Sathya Nagar 4th Street has undergone several revisions over the years. In 2003, the value was Rs 229 per sq.ft, which saw a significant increase to Rs 1,250 per sq.ft by 2007. The value then rose to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,200 per sq.ft.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 446%. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 861% from 2003 to 2024. The register has no figure for the year 2002 for this street.

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, placing Sathya Nagar 4th Street's 2024 figure below that median.

• Sathya Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 2nd 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 4th 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, while the registration fee at 2% would be Rs 44,000. Together, the total cost would be 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.

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

Which Sub Registrar Office covers Sathya Nagar 4th Street?

The Sub Registrar Office that covers Sathya Nagar 4th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for additional details.

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

The guideline value is an essential factor in property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathya Nagar 4th Street?

The current guideline value of Sathya Nagar 4th 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 significantly from Rs 229 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 861% over this period.

What is the land classification of Sathya Nagar 4th Street?

Sathya Nagar 4th Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sathya Nagar 4th Street?

The Sub Registrar Office for Sathya Nagar 4th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.