Guideline Value for SATHYA NAGAR 1ST MAIN SALAI RIGHT 1ST CROSS STREET

Sathya Nagar 1st Main Salai Right 1st Cross Street guideline value

The current guideline value for Sathya Nagar 1st Main Salai Right 1st Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sathya Nagar 1st Main Salai Right 1st Cross Street has changed

Over the years, the guideline value of Sathya Nagar 1st Main Salai Right 1st Cross Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,300 per sq.ft, which then changed to Rs 1,541 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. When considering the overall change from 2012 to 2024, the guideline value has increased by 10%, reaching the current rate of Rs 2,530 per sq.ft.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is the same as that of Sathya Nagar 1st Main Salai Right 1st Cross Street.

• Sathya Nagar 1st Main Salai Right 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Salai Right 3rd Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Street Cross 2nd Road: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Street Cross 3rd Road: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Street Cross Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar 1st Main Salai Right 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathya Nagar 1st Main Salai Right 1st Cross Street?

The Sub Registrar Office that covers Sathya Nagar 1st Main Salai Right 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. When you buy or sell property, the registration office uses the guideline value to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value for Sathya Nagar 1st Main Salai Right 1st Cross Street?

The current guideline value for Sathya Nagar 1st Main Salai Right 1st Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, marking a 10% increase. The value was Rs 1,541 per sq.ft in 2017, which was a 33% decrease from Rs 2,300 per sq.ft in 2012.

What is the land classification for this street?

The land classification for Sathya Nagar 1st Main Salai Right 1st Cross Street is Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where can I find the registration office for this area?

The registration office covering Sathya Nagar 1st Main Salai Right 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.