Guideline Value for SRI VATSA FOUNDATIONS MAIN SALAI LEFT

Sri Vatsa Foundations Main Salai Left guideline value

The current guideline value for Sri Vatsa Foundations Main Salai Left is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Manapakkam village under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Sri Vatsa Foundations Main Salai Left has changed

The guideline value for Sri Vatsa Foundations Main Salai Left has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 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 a total of 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, indicating that the guideline value for Sri Vatsa Foundations Main Salai Left is below this median.

• Sri Vatsa Foundations Main Salai: Rs 1,650 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai Right: Rs 1,650 per sq.ft (2024)
• Sujatha Lane: Rs 3,300 per sq.ft (2024)
• S.V.R. Export: Rs 2,200 per sq.ft (2024)
• Tank Street: Rs 2,200 per sq.ft (2024)
• Thalaivar Munusamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vatsa Foundations Main Salai Left

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vatsa Foundations Main Salai Left?

The Sub Registrar Office that covers Sri Vatsa Foundations Main Salai Left 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 critical factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and follows the established guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value for Sri Vatsa Foundations Main Salai Left?

The current guideline value for Sri Vatsa Foundations Main Salai Left is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Sri Vatsa Foundations Main Salai Left is Residential Class IV Type - III.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Sri Vatsa Foundations Main Salai Left 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.

How is stamp duty calculated for properties in Manapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.