Guideline Value for SATHYA NAGAR 1ST MAIN SALAI RIGHT 3RD CROSS STREET

Sathya Nagar 1st Main Salai Right 3rd Cross Street guideline value

The current guideline value for Sathya Nagar 1st Main Salai Right 3rd 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 with a land classification of Residential Class II Type - I.

How the guideline value of Sathya Nagar 1st Main Salai Right 3rd Cross Street has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,300 per sq.ft in the 2023 revision, and it has now risen to Rs 2,530 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the overall changes, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The increase from 2017 to 2023 was notable at 49%, while the drop from 2012 to 2017 was 33%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value 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 figure for Sathya Nagar 1st Main Salai Right 3rd Cross Street.

• Sathya Nagar 1st Main Salai Right 2nd 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 Salai Right 1st Cross 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 3rd 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, bringing the total fees together 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathya Nagar 1st Main Salai Right 3rd Cross Street?

The Sathya Nagar 1st Main Salai Right 3rd Cross Street is covered by 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 critical factor 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 transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sathya Nagar 1st Main Salai Right 3rd Cross Street?

The current guideline value for Sathya Nagar 1st Main Salai Right 3rd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions. It was Rs 2,300 per sq.ft in 2012, decreased to Rs 1,541 per sq.ft in 2017, increased to Rs 2,300 per sq.ft in 2023, and is now 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 3rd Cross Street is Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. Fees are based on the higher of the guideline value or sale price.

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

The Sub Registrar Office covering Sathya Nagar 1st Main Salai Right 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more details online.