Guideline Value for Sathyamurthy Co.Op.Building Society Nagar

Sathyamurthy Co.Op.Building Society Nagar guideline value

The current guideline value of Sathyamurthy Co.Op.Building Society Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Sathyamurthy Co.Op.Building Society Nagar has changed

The guideline value for Sathyamurthy Co.Op.Building Society Nagar has seen several revisions over the years. The earliest recorded figure is from 2007 at Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, this value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in 2024, representing a 10% change from the previous year.

Between 2017 and 2023, the value increased by 49%, reflecting a notable growth in the property value. Overall, from the 2007 revision to the current 2024 rate, there has been a substantial increase of 340% in the guideline value per sq.ft. The register has no figures for this street in the years 2002 and 2003.

Guideline values in Kathirvedu

Kathirvedu has a range of guideline values across its 78 streets under the Ambattur SRO, with the 2024 figures ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,500 per sq.ft, positioning Sathyamurthy Co.Op.Building Society Nagar above this median.

• Sabari Nagar: Rs 1,400 per sq.ft (2024)
• Royal City: Rs 1,400 per sq.ft (2024)
• Sivaraj Street: Rs 1,100 per sq.ft (2024)
• Redhills Road: Rs 2,800 per sq.ft (2024)
• Society Nagar: Rs 1,900 per sq.ft (2024)
• Soorapattu Main Road: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthy Co.Op.Building Society Nagar

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

Which Sub Registrar Office covers Sathyamurthy Co.Op.Building Society Nagar?

The Sathyamurthy Co.Op.Building Society Nagar falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathirvedu. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a standardized value, which helps in maintaining transparency and consistency in property dealings. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sathyamurthy Co.Op.Building Society Nagar?

The current guideline value of Sathyamurthy Co.Op.Building Society Nagar 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 significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for this area?

The Ambattur Sub Registrar Office is responsible for handling registrations for Sathyamurthy Co.Op.Building Society Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Sathyamurthy Co.Op.Building Society Nagar?

The land classification for Sathyamurthy Co.Op.Building Society Nagar is Residential Special Type - II, indicating its designated use for residential purposes.