Guideline Value for SATHYA NAGAR 1ST MAIN SALAI RIGHT 2ND CROSS STREET

Sathya Nagar 1st Main Salai Right 2nd Cross Street guideline value

The current guideline value of Sathya Nagar 1st Main Salai Right 2nd 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 2nd Cross Street has changed

The guideline value for Sathya Nagar 1st Main Salai Right 2nd Cross Street has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,300 per sq.ft in 2023, and further rose to the current figure of Rs 2,530 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging 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 equal to the current value of Sathya Nagar 1st Main Salai Right 2nd Cross Street.

• Sathya Nagar 1st Main Salai Right 1st 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 2nd 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, while the registration fee at 2% would be Rs 50,600, bringing the total to 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathya Nagar 1st Main Salai Right 2nd Cross Street?

The Sub Registrar Office that covers Sathya Nagar 1st Main Salai Right 2nd 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 plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a buyer or seller approaches the registration office, the guideline value is assessed alongside the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sathya Nagar 1st Main Salai Right 2nd Cross Street?

The current guideline value of Sathya Nagar 1st Main Salai Right 2nd 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 changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Sathya Nagar 1st Main Salai Right 2nd Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sathya Nagar 1st Main Salai Right 2nd 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 higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,77,100 at 7%.