Guideline Value for Sri Sathya Nagar

Sri Sathya Nagar guideline value

The current guideline value for Sri Sathya Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Sathya Nagar has changed

The guideline value for Sri Sathya Nagar has seen several revisions over the years. In 2012, the value was Rs 2,100 per sq.ft, which decreased to Rs 1,407 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,100 per sq.ft in 2023, and then further rose to Rs 2,310 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is the same as the guideline value for Sri Sathya Nagar.

• Sri Saraswathi Avenue: Rs 2,750 per sq.ft (2024)
• Sri Seshadri Garden Theru: Rs 1,650 per sq.ft (2024)
• Sri Sanjay Garden: Rs 2,310 per sq.ft (2024)
• Sri Sri Enclave: Rs 2,310 per sq.ft (2024)
• Sri Ram Properties: Rs 4,290 per sq.ft (2024)
• S.R.S. Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,310 per sq.ft, the guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathya Nagar?

The Sri Sathya Nagar area is covered by 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 Perungalathur

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum price at which a property can be registered. This helps maintain transparency in property transactions and prevents undervaluation, ensuring that all parties are treated fairly during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sathya Nagar?

The current guideline value of Sri Sathya Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Sri Sathya Nagar?

The land classification for Sri Sathya Nagar is Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Sri Sathya Nagar?

The Sub Registrar Office covering Sri Sathya Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Sathya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 at 7%.