Guideline Value for SATHYA NAGAR 2ND MAIN CROSS ROAD 2

Sathya Nagar 2nd Main Cross Road 2 guideline value

The current guideline value for Sathya Nagar 2nd Main Cross Road 2 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 2nd Main Cross Road 2 has changed

The guideline value for Sathya Nagar 2nd Main Cross Road 2 has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 485 per sq.ft. In 2003, it increased by 11% to Rs 540 per sq.ft. The value continued to rise, reaching Rs 850 per sq.ft in 2007, which was a significant increase of 57%. The 2012 revision saw the value at Rs 2,300 per sq.ft, marking a substantial increase of 171% from the previous revision.

From 2012 to 2017, the guideline value decreased by 33% to Rs 1,541 per sq.ft. However, it rebounded significantly by 49% in the 2023 revision to Rs 2,300 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year. 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 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 value for Sathya Nagar 2nd Main Cross Road 2.

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

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

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. Together, the total cost for these fees would be 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 information.

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

The Sub Registrar Office that covers Sathya Nagar 2nd Main Cross Road 2 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 a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the value of the property for taxation purposes. Buyers and sellers should be aware that the guideline value is used to calculate stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two values will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value for Sathya Nagar 2nd Main Cross Road 2 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 this period.

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 value for Sathya Nagar 2nd Main Cross Road 2.

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

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

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

The Sub Registrar Office for Sathya Nagar 2nd Main Cross Road 2 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.