Guideline Value for SATHYA NAGAR 1ST MAIN STREET

Sathya Nagar 1st Main Street guideline value

The current guideline value of Sathya Nagar 1st Main 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 Street has changed

The guideline value for Sathya Nagar 1st Main Street has undergone 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, marking an 11% rise. The value then saw a significant increase to Rs 850 per sq.ft in 2007, reflecting a 57% change. By 2012, the guideline value adjusted to Rs 2,300 per sq.ft, showing a substantial increase of 171% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 1,541 per sq.ft, a drop of 33%. However, the value increased again to Rs 2,300 per sq.ft in 2023, and the latest revision in 2024 set the guideline value at Rs 2,530 per sq.ft, which represents a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 422%.

Guideline values in Manapakkam

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

• Sathya Nagar 1st Main Salai Right 3rd 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 Salai Right 2nd Cross 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 1st Cross Street: 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 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 cost for these fees 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 precise calculations.

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

The Sub Registrar Office covering Sathya Nagar 1st Main 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. For more information, you can find your SRO.

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

The guideline value is a crucial 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 transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sathya Nagar 1st Main Street?

The current guideline value of Sathya Nagar 1st Main 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 significantly from Rs 485 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 422%.

What is the registration office for Sathya Nagar 1st Main Street?

The registration office for Sathya Nagar 1st Main 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 are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. The registration fee is calculated at 2% of the same amount.

What is the median guideline value in Manapakkam?

The median guideline value in Manapakkam is Rs 2,530 per sq.ft, which is the same as the current guideline value for Sathya Nagar 1st Main Street.