Guideline Value for SETHULAKSHMI AVENUE RIGHT 2ND CROSS STREET

Sethulakshmi Avenue Right 2nd Cross Street guideline value

The current guideline value of Sethulakshmi Avenue Right 2nd Cross Street 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, and is classified as Residential Class I Type - I.

How the guideline value of Sethulakshmi Avenue Right 2nd Cross Street has changed

Looking at the historical revisions, the guideline value for Sethulakshmi Avenue Right 2nd Cross Street was Rs 2,010 per sq.ft in 2017. It then increased to Rs 3,000 per sq.ft in 2012. The value saw a significant rise to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, or 2007.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The change from 2023 to 2024 represents a 10% increase.

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 for these streets is Rs 2,530 per sq.ft, making the guideline value of Sethulakshmi Avenue Right 2nd Cross Street above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, resulting in a total of 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 information.

Which Sub Registrar Office covers Sethulakshmi Avenue Right 2nd Cross Street?

The Sub Registrar Office that covers Sethulakshmi Avenue Right 2nd Cross 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 buying or selling property in Manapakkam. It determines the minimum value at which properties can be registered, ensuring that transactions are recorded accurately and transparently. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

During the registration of property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sethulakshmi Avenue Right 2nd Cross Street?

The current guideline value of Sethulakshmi Avenue Right 2nd Cross Street 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 seen several changes, increasing from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, with notable increments in between.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft, placing Sethulakshmi Avenue Right 2nd Cross Street above this median.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Sethulakshmi Avenue Right 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Sethulakshmi Avenue Right 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.