Guideline Value for Sathyam Nagar

Sathyam Nagar guideline value

The current guideline value of Sathyam Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sriperumpudur SRO. The land classification for Sathyam Nagar is Residential Class II Type - I.

How the guideline value of Sathyam Nagar has changed

The guideline value for Sathyam Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 134 per sq.ft. The 2023 revision maintained the value at Rs 200 per sq.ft, and the same value continues into the 2024 revision, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. The changes between the revisions include a 49% increase from 2017 to 2023 and a significant 233% increase from 2007 to 2012. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Sathyam Nagar is below this median.

• Sasthapuri: Rs 200 per sq.ft (2024)
• Seelam Nagar: Rs 200 per sq.ft (2024)
• Seenivasa Nagar: Rs 250 per sq.ft (2024)
• Siva Garden: Rs 250 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)
• RPG Global City: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be 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 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathyam Nagar?

The Sub Registrar Office that covers Sathyam Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price. The stamp duty is charged based on the higher of the two values, which means that sellers and buyers should be aware of the guideline value to avoid unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Sathyam Nagar?

The current guideline value of Sathyam 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 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Sathyam Nagar?

Sathyam 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 in Sathyam Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Sathyam Nagar located?

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