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

Sathya Nagar 1st Main Street Cross 2nd Road guideline value

The current guideline value for Sathya Nagar 1st Main Street Cross 2nd Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This property 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 Street Cross 2nd Road has changed

The guideline value for Sathya Nagar 1st Main Street Cross 2nd Road has seen several revisions over the years. In 2002, the value was Rs 485 per sq.ft, which increased to Rs 540 per sq.ft in 2003. The subsequent revision in 2007 saw a significant jump to Rs 850 per sq.ft, followed by a rise to Rs 2,300 per sq.ft in 2012. The value then decreased to Rs 1,541 per sq.ft in 2017 before climbing to Rs 2,300 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,530 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 422%. Notably, the change from 2023 to 2024 reflects a 10% increase. The revision from 2017 to 2023 shows a substantial increase of 49%, while the period from 2012 to 2017 experienced a decrease of 33%. The 2007 to 2012 revision marked a significant increase of 171%, and from 2003 to 2007, the increase was 57%. The increase from 2002 to 2003 was 11%.

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 is Rs 2,530 per sq.ft, which is equal to the 2024 figure for Sathya Nagar 1st Main Street Cross 2nd Road.

• Sathya Nagar 1st Main Street: 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 Salai Right 3rd Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Street Cross Road: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st Main Salai Right 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 1st To 6th Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar 1st Main Street Cross 2nd Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to 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, making the total fees together Rs 2,27,700. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering Sathya Nagar 1st Main Street Cross 2nd Road 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 further assistance.

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

The guideline value is an important factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms. The guideline value is regularly updated to reflect changes in the real estate market and local conditions, making it a crucial reference point for property transactions.

Frequently asked questions

What is the current guideline value for Sathya Nagar 1st Main Street Cross 2nd Road?

The current guideline value for Sathya Nagar 1st Main Street Cross 2nd Road 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 significantly from Rs 485 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 422% over the years.

What are the stamp duty and registration fees for property transactions?

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.

Which office handles registrations for Sathya Nagar 1st Main Street Cross 2nd Road?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for Sathya Nagar 1st Main Street Cross 2nd Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How does the guideline value affect property transactions?

The guideline value affects property transactions by establishing the minimum value for registration, which is used to calculate the stamp duty and registration fees. It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.