Guideline Value for SATHYA NAGAR MAIN 2ND STREET

Sathya Nagar Main 2nd Street guideline value

The current guideline value of Sathya Nagar Main 2nd 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 Main 2nd Street has changed

Over the years, the guideline value of Sathya Nagar Main 2nd Street has seen significant changes. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 485 per sq.ft. This figure increased to Rs 540 per sq.ft in 2003, marking an 11% rise. By 2007, the value further increased to Rs 850 per sq.ft, reflecting a 57% increase from the previous revision. In 2012, the guideline value rose to Rs 2,300 per sq.ft, which was a substantial 171% increase. However, this figure was reduced to Rs 1,541 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 2,300 per sq.ft in 2023, and finally, it reached Rs 2,530 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

The overall change from the 2002 figure to the current 2024 value reflects a significant increase of 422%. There are no figures available for the years not mentioned in the register 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 is Rs 2,530 per sq.ft, which is equal to the current value of Sathya Nagar Main 2nd Street.

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

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sathya Nagar Main 2nd Street?

The Sub Registrar Office that covers Sathya Nagar Main 2nd 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 details.

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

The guideline value is a crucial factor when registering property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. The registration office uses this value to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the final costs may vary depending on the sale price and the guideline value.

Frequently asked questions

What is the current guideline value of Sathya Nagar Main 2nd Street?

The current guideline value of Sathya Nagar Main 2nd 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% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sathya Nagar Main 2nd Street?

The Sub Registrar Office for Sathya Nagar Main 2nd Street is 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 Main 2nd Street?

The land classification for Sathya Nagar Main 2nd Street is Residential Class II Type - I.