Guideline Value for Sathya Nagar

Sathya Nagar guideline value

The current guideline value of Sathya Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sathya Nagar has changed

The guideline value of Sathya Nagar has seen significant changes over the years. In 2007, the value was Rs 600 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, by 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, and subsequently increased by 10% to reach the current value of Rs 2,970 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been an increase of 395%. It is important to note that there are no figures available for this street in the revisions of 2002 and 2003.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the guideline value for Sathya Nagar. Below are the guideline values for other streets in Mogalivakkam:

• Sekar Avenue Stage I & II: Rs 2,970 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 2,970 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 2,970 per sq.ft (2024)
• Selvalakshmi Garden: Rs 2,970 per sq.ft (2024)
• Selvalakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Sahaj Enclave/phase to 1 to IV: Rs 2,970 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration would be Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Mogalivakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sathya Nagar?

The current guideline value of Sathya Nagar is Rs 2,970 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 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Sathya Nagar?

The land classification for Sathya Nagar is Residential Special Type - I.

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

For a 1,000 sq.ft plot, the total stamp duty is Rs 2,07,900 and the registration fee is Rs 59,400, totaling Rs 2,67,300.

Where is the Sub Registrar Office for Sathya Nagar located?

The Sub Registrar Office for Sathya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.