Guideline Value for Sathyaraj Nagar (Ward-18)

Sathyaraj Nagar (Ward-18) guideline value

The current guideline value of Sathyaraj Nagar (Ward-18) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sathyaraj Nagar (Ward-18) has changed

The guideline value for Sathyaraj Nagar has seen revisions over the years. The earliest recorded revision is from 2012, with a guideline value of Rs 1,200 per sq.ft. The most recent revision in 2024 increased this figure to Rs 1,300 per sq.ft, marking an increase of 8% from the previous value.

There are no recorded guideline values for Sathyaraj Nagar in the years 2023, 2017, 2007, 2003, and 2002, as the register does not contain figures for these years.

Guideline values in Madhavaram

In Madhavaram, a total of 1,946 streets fall under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Sathyaraj Nagar's current value is below this median.

• Sathya Sai Nagar Rd (Ward No.7): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy st (Ward No.10): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy Street (Ward-29): Rs 1,300 per sq.ft (2024)
• Sathyamoorthy St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sathyaraj Nagar (Ward-18)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Sathyaraj Nagar (Ward-18)?

The Sub Registrar Office that covers Sathyaraj Nagar (Ward-18) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure they understand how this value is applied to their specific property to avoid any unexpected costs during registration.

Frequently asked questions

What is the current guideline value of Sathyaraj Nagar (Ward-18)?

The current guideline value of Sathyaraj Nagar (Ward-18) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, which is an 8% increase. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Sathyaraj Nagar?

Sathyaraj Nagar is classified as Residential Class III Type - I. This classification is important for understanding the type of development allowed in the area.

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, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,17,000 in fees based on the current guideline value.

Where can I find the Sub Registrar Office for Sathyaraj Nagar?

The Madhavaram Sub Registrar Office covers Sathyaraj Nagar (Ward-18) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.