Guideline Value for SETHULAKSHMI AVENUE MAIN SALAI

Sethulakshmi Avenue Main Salai guideline value

The current guideline value of Sethulakshmi Avenue Main Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Sethulakshmi Avenue Main Salai has changed

The guideline value for Sethulakshmi Avenue Main Salai has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it back to Rs 3,000 per sq.ft. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for the area is Rs 2,530 per sq.ft, indicating that the 2024 figure for Sethulakshmi Avenue Main Salai is above this median.

• Sethulakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Sethulakshmi Avenue Right 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sethulakshmi 2nd Street: Rs 3,300 per sq.ft (2024)
• Sethulakshmi Avenue Right 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sethulakshmi 1st Street: Rs 3,300 per sq.ft (2024)
• Sethulakshmi 1st Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sethulakshmi Avenue Main Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sethulakshmi Avenue Main Salai?

The Sub Registrar Office covering Sethulakshmi Avenue Main Salai 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 plays a crucial role 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, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any issues during the registration process.

Frequently asked questions

What is the current guideline value of Sethulakshmi Avenue Main Salai?

The current guideline value of Sethulakshmi Avenue Main Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sethulakshmi Avenue Main Salai?

Sethulakshmi Avenue Main Salai is classified as Residential Class I Type - I.

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

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sethulakshmi Avenue Main Salai?

The Chennai South Joint I Sub Registrar Office handles registrations for Sethulakshmi Avenue Main Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.