Guideline Value for Sathya Sai Nagar 3rd Street

Sathya Sai Nagar 3rd Street guideline value

The current guideline value of Sathya Sai Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sathya Sai Nagar 3rd Street has changed

The guideline value for Sathya Sai Nagar 3rd Street has undergone several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 167% rise. However, this value decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, there has been a substantial increase of 193% in the guideline value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which means that the 2024 figure for Sathya Sai Nagar 3rd Street is below this median.

• School Street: Rs 1,320 per sq.ft (2024)
• Seliamman Koil Street: Rs 3,300 per sq.ft (2024)
• Sapthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Santhosh Nagar: Rs 1,320 per sq.ft (2024)
• Santhanam Avenue: Rs 3,800 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Sai Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sathya Sai Nagar 3rd Street?

The Sathya Sai Nagar 3rd Street falls under the jurisdiction of the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tambaram, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Sathya Sai Nagar 3rd Street?

The current guideline value for Sathya Sai Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

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

Other streets in Tambaram have varying guideline values, with School Street at Rs 1,320 per sq.ft and Seliamman Koil Street at Rs 3,300 per sq.ft, among others.

What is the stamp duty rate for properties in Sathya Sai Nagar 3rd Street?

The stamp duty rate for properties in Sathya Sai Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I visit for property transactions in Sathya Sai Nagar 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers property transactions in Sathya Sai Nagar 3rd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.