Guideline Value for Sathyamurthy Nagar

Sathyamurthy Nagar guideline value

The current guideline value of Sathyamurthy Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is part of Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sathyamurthy Nagar has changed

The guideline value for Sathyamurthy Nagar has seen several revisions over the years. In 2002, the value was Rs 137 per sq.ft, which increased to Rs 150 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 300 per sq.ft in 2007, representing a 100% change. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, a 900% increase. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,309%. The register has no figures for Sathyamurthy Nagar for the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Sathyamurthy Nagar's 2024 figure above that median.

• Seemathamman Koil Street: Rs 2,200 per sq.ft (2024)
• Seenivasa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seenivasa Nagar 3rd Cross Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Sathyamurthy Nagar?

The Sub Registrar Office that covers Sathyamurthy Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official register. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sathyamurthy Nagar?

The current guideline value of Sathyamurthy Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 137 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 2,309% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Sathyamurthy Nagar?

The Virugambakkam Sub Registrar Office covers Sathyamurthy Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sathyamurthy Nagar?

Sathyamurthy Nagar falls under the Residential Class II Type - I land classification.