Guideline Value for Sathya Nagar

Sathya Nagar guideline value

The current guideline value of Sathya Nagar, located in Thandalkazhani village under the Redhills SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sathya Nagar has changed

The guideline value for Sathya Nagar has seen several revisions over the years. In 2002, the value was Rs 399 per sq.ft. It increased significantly to Rs 42 per sq.ft in 2003, followed by a substantial rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 800 per sq.ft in 2012, before dropping to Rs 536 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 800 per sq.ft, and the current guideline value is Rs 880 per sq.ft from the 2024 revision.

Between the revisions, notable changes include a massive increase of 614% from 2003 to 2007, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 121%.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value is Rs 880 per sq.ft, making Sathya Nagar's current value equal to this median.

• Sai Dev Nagar: Rs 880 per sq.ft (2024)
• Sri Vadivudai Amman Nagar: Rs 880 per sq.ft (2024)
• Thanigai Nagar: Rs 660 per sq.ft (2024)
• Periyar Street: Rs 880 per sq.ft (2024)
• Nethaji Subash Chandrabose Nagar: Rs 1,210 per sq.ft (2024)
• Vadivudaiamman Nagar Main Street: Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathya Nagar?

The Sub Registrar Office that covers Sathya Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thandalkazhani. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sathya Nagar?

The current guideline value of Sathya Nagar is Rs 880 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 399 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, with various revisions over the years.

What is the land classification for Sathya Nagar?

Sathya Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same amount.

Where is the Sub Registrar Office for Sathya Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.