Guideline Value for SATHYA NAGAR EXTN PART 2ND LEFT STREET

Sathya Nagar Extn Part 2nd Left Street guideline value

The current guideline value for Sathya Nagar Extn Part 2nd Left 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, classified as Residential Class II Type - I.

How the guideline value of Sathya Nagar Extn Part 2nd Left Street has changed

The guideline value for Sathya Nagar Extn Part 2nd Left Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 2,300 per sq.ft in the 2023 revision, and then saw a further increase to Rs 2,530 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no 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 guideline value for these streets is Rs 2,530 per sq.ft, which is equal to the 2024 figure for Sathya Nagar Extn Part 2nd Left Street.

• Sathya Nagar Extn Part 1st Main Road: 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 Main 2nd Street: Rs 2,530 per sq.ft (2024)
• Sathya Nagar Main 3rd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sathya Nagar Extn Part 2nd Left Street

For a property measuring 1,000 sq.ft 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 cost of duty and fees to 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sathya Nagar Extn Part 2nd Left Street?

The Sub Registrar Office that covers Sathya Nagar Extn Part 2nd Left 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. 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 in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Manapakkam, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the property's worth according to government standards.

During the registration process, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sathya Nagar Extn Part 2nd Left Street?

The current guideline value for Sathya Nagar Extn Part 2nd Left 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 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What are the stamp duty and registration fees for properties 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.

Which office handles registrations for Sathya Nagar Extn Part 2nd Left Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Sathya Nagar Extn Part 2nd Left Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Sathya Nagar Extn Part 2nd Left Street?

The land classification for Sathya Nagar Extn Part 2nd Left Street is Residential Class II Type - I, indicating its suitability for residential development.