Guideline Value for Sathya Nagar

Sathya Nagar guideline value

The current guideline value of Sathya Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, 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 for Sathya Nagar has undergone several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased to Rs 125 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a further increase to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The guideline value then rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

Between these revisions, there have been notable changes. From 2002 to 2024, the overall increase is +948%. The jump from 2017 to 2023 was +49%, while the transition from 2012 to 2017 saw a decrease of -33%. The value surged by +233% from 2007 to 2012 and increased by +140% from 2003 to 2007. The increase from 2002 to 2003 was +19%. There are no figures available for any other years for this street.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,001 per sq.ft, and Sathya Nagar's current value is above this median.

• Sastri Nagar: Rs 1,100 per sq.ft (2024)
• Selvamani Nagar: Rs 1,001 per sq.ft (2024)
• Sivanapadai Veethi: Rs 1,100 per sq.ft (2024)
• South Lock Road: Rs 1,000 per sq.ft (2024)
• South Pragaram Street: Rs 1,001 per sq.ft (2024)
• Rammmorthi Nagar: Rs 1,000 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sathya Nagar?

The Sub Registrar Office that covers Sathya Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process of property transactions in Kathivakkam. 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 guideline value is considered to ensure that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sathya Nagar?

The current guideline value of Sathya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of +948% over the years.

What are the other streets in Kathivakkam with their guideline values?

Other streets in Kathivakkam include Sastri Nagar and Sivanapadai Veethi, both valued at Rs 1,100 per sq.ft, while Selvamani Nagar is valued at Rs 1,001 per sq.ft.

How is stamp duty calculated for properties in Sathya Nagar?

Stamp duty for properties in Sathya Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 77,000.

Where can I find more information about the Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office covers Sathya Nagar, and you can find more information about it at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can also find your SRO online.