Guideline Value for Sathya Prabhu Nagar

Sathya Prabhu Nagar guideline value

The current guideline value of Sathya Prabhu Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Pennaloor village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Sathya Prabhu Nagar has changed

Over the years, the guideline value for Sathya Prabhu Nagar has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012. However, this value dropped to Rs 134 per sq.ft in 2017 before rising again to Rs 200 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has increased by 400% as well, reflecting the changes in property valuation in the area.

Guideline values in Pennaloor

Pennaloor village has 35 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, making Sathya Prabhu Nagar's 2024 figure equal to this median.

• Sathyamurthy Street: Rs 100 per sq.ft (2024)
• Selliyamman Koil Street: Rs 100 per sq.ft (2024)
• Ramanjuar Nagar: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - III: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - II: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Prabhu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathya Prabhu Nagar?

The Sathya Prabhu Nagar area falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Pennaloor. It serves as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sathya Prabhu Nagar?

The current guideline value of Sathya Prabhu Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and finally returned to Rs 200 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Pennaloor?

The median guideline value for the 35 streets in Pennaloor is Rs 200 per sq.ft, which is also the current guideline value for Sathya Prabhu Nagar.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.