Guideline Value for Sathya Nagar

Sathya Nagar guideline value

The current guideline value of Sathya Nagar is Rs 605 per sq.ft, effective from 1 July 2024. Sathya Nagar is located in Molachoor village, under the jurisdiction of the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sathya Nagar has changed

The guideline value of Sathya Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, when the guideline value was Rs 400 per sq.ft. This was followed by a slight increase to Rs 402 per sq.ft in 2017, and then a more significant jump to Rs 600 per sq.ft in 2023. The current revision in 2024 has increased the guideline value to Rs 605 per sq.ft, marking a 1% rise from the previous year.

From 2012 to 2017, the change was minimal at just 1%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has risen by 51%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, and Sathya Nagar's current figure of Rs 605 per sq.ft is above this median.

• School Street: Rs 600 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• SelvaGanapathy Street: Rs 600 per sq.ft (2024)
• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• Santha Nagar: Rs 600 per sq.ft (2024)
• Sakthi Vinayagar Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty, calculated at 7%, would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total cost for these fees to Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathya Nagar?

The Sub Registrar Office that covers Sathya Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It provides a standard reference point for property values in the area, which is essential for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Sathya Nagar?

The current guideline value of Sathya Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, reflecting a total increase of 51% over this period.

What is the land classification of Sathya Nagar?

Sathya Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

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

For a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350 and the registration fee would be Rs 12,100, totaling Rs 54,450.

Where is the Sub Registrar Office for Sathya Nagar located?

The Sub Registrar Office for Sathya Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.