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

Sathya Nagar 1st Main Street Cross 3rd Road guideline value

The current guideline value of Sathya Nagar 1st Main Street Cross 3rd Road 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 Street Cross 3rd Road has changed

The guideline value for Sathya Nagar 1st Main Street Cross 3rd Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 485 per sq.ft, which increased to Rs 540 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 850 per sq.ft in 2007, a change of +57%. In 2012, the guideline value was recorded at Rs 2,300 per sq.ft, reflecting a substantial increase of +171% from the previous revision. However, this figure dropped to Rs 1,541 per sq.ft in 2017, a decrease of -33%.

From 2017 to 2023, the guideline value increased to Rs 2,300 per sq.ft, which is a rise of +49%. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, marking a +10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +422%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with the 2024 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 Street Cross 3rd Road.

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

Stamp duty and registration fee for property in Sathya Nagar 1st Main Street Cross 3rd Road

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 duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

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

The Sub Registrar Office that covers Sathya Nagar 1st Main Street Cross 3rd 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Manapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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

Frequently asked questions

What is the current guideline value of Sathya Nagar 1st Main Street Cross 3rd Road?

The current guideline value of Sathya Nagar 1st Main Street Cross 3rd 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, an overall increase of +422% over this period.

What is the land classification for Sathya Nagar 1st Main Street Cross 3rd Road?

The land classification for Sathya Nagar 1st Main Street Cross 3rd Road 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 Street Cross 3rd 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.

How is the stamp duty calculated for property transactions?

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