Guideline Value for SATHYA NAGAR EXTN PART 1ST MAIN ROAD

Sathya Nagar Extn Part 1st Main Road guideline value

The current guideline value of Sathya Nagar Extn Part 1st Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sathya Nagar Extn Part 1st Main Road has changed

The guideline value for Sathya Nagar Extn Part 1st Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,300 per sq.ft. In 2017, it decreased to Rs 1,541 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,300 per sq.ft in 2023, and finally rose to the current rate of Rs 2,530 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision recorded a value of Rs 2,300 per sq.ft, which was a 49% increase from the 2017 figure. It is important to note that there are no recorded figures for the years 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 value is Rs 2,530 per sq.ft, which is equal to the current guideline value for Sathya Nagar Extn Part 1st Main Road.

• Sathya Nagar Extn Part 2nd Left Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar Extn Part 3rd Left Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar All 4th Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar Main 1st Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar 4th Main Salai Left 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar Main 2nd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar Extn Part 1st Main 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, and the registration fee at 2% would be Rs 50,600. Therefore, the total cost for stamp duty and registration would be Rs 2,27,700. It is important to note that 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 details.

Which Sub Registrar Office covers Sathya Nagar Extn Part 1st Main Road?

The Sub Registrar Office that covers Sathya Nagar Extn Part 1st Main 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 an important factor during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure that the transaction complies with legal requirements.

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, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sathya Nagar Extn Part 1st Main Road?

The current guideline value of Sathya Nagar Extn Part 1st Main 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 from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Sathya Nagar Extn Part 1st Main Road?

Sathya Nagar Extn Part 1st Main Road is classified as Residential Class II Type - I.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,27,700.

Which office handles registrations for this street?

The registrations for Sathya Nagar Extn Part 1st Main Road are handled 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.