Guideline Value for Sathyamoorthy Nagar

Sathyamoorthy Nagar guideline value

The current guideline value of Sathyamoorthy Nagar in Puthagaram village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sathyamoorthy Nagar has changed

The guideline value for Sathyamoorthy Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase from the 2023 revision of Rs 1,500 per sq.ft, marking a change of +7%. Looking back further, the 2017 revision was set at Rs 1,005 per sq.ft, which reflects a significant increase of +49% when compared to the 2023 figure. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +7%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The guideline value for Sathyamoorthy Nagar has seen fluctuations over the years, with the most notable changes occurring between the revisions mentioned.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Sathyamoorthy Nagar is below this median.

• Sathya Nagar: Rs 3,000 per sq.ft (2024)
• Sathyanagar Anex: Rs 3,000 per sq.ft (2024)
• S.B.O.A .Teachers Nagar: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sarathy Nagar: Rs 2,200 per sq.ft (2024)
• Saraswathi Nagar Annexe & Ext: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamoorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathyamoorthy Nagar?

The Sub Registrar Office that covers Sathyamoorthy Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Puthagaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Sathyamoorthy Nagar?

The current guideline value of Sathyamoorthy Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Sathyamoorthy Nagar?

Sathyamoorthy 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?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,44,000.

Which office handles registrations for Sathyamoorthy Nagar?

The Ambattur Sub Registrar Office handles registrations for Sathyamoorthy Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.