Guideline Value for Sathyamurthy Nagar

Sathyamurthy Nagar guideline value

The current guideline value for Sathyamurthy Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Sathyamurthy Nagar has changed

The guideline value for Sathyamurthy Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 435 per sq.ft, which increased to Rs 650 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has set the guideline value at Rs 720 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Sathyamurthy Nagar is below this median.

• Selvaganapathy Nagar: Rs 440 per sq.ft (2024)
• Santhi Nagar: Rs 440 per sq.ft (2024)
• Senthil Garden: Rs 990 per sq.ft (2024)
• Senthil Garden Extension: Rs 1,320 per sq.ft (2024)
• Sam Leo Muthu Nagar Part - I, II: Rs 1,650 per sq.ft (2024)
• Shoba Evergreens: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyamurthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total charges to Rs 64,800. 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 Sathyamurthy Nagar?

The Sub Registrar Office that covers Sathyamurthy Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nandambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This value ensures that the government receives the appropriate taxes from property sales.

When buying or selling property, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sathyamurthy Nagar?

The current guideline value of Sathyamurthy Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 435 per sq.ft in 2017 to Rs 720 per sq.ft in 2024, marking a total increase of 66% over this period.

What are the stamp duty and registration fees for property in Sathyamurthy Nagar?

For a property valued at Rs 7,20,000, the stamp duty would be Rs 50,400 and the registration fee would be Rs 14,400, totaling Rs 64,800.

Which Sub Registrar Office covers Sathyamurthy Nagar?

The Padappai Sub Registrar Office covers Sathyamurthy Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sathyamurthy Nagar?

The land classification for Sathyamurthy Nagar is Residential Class III Type - I.