Guideline Value for SRI VATSA FOUNDATIONS MAIN SALAI RIGHT

Sri Vatsa Foundations Main Salai Right guideline value

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

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

Since the 2012 revision, the guideline value has seen a change from Rs 1,500 per sq.ft to Rs 1,650 per sq.ft in 2024. The 2012 figure was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017, marking a significant decline of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,500 per sq.ft in 2023, and then rose by 10% to Rs 1,650 per sq.ft in 2024.

Revisions prior to 2012, specifically in 2002, 2003, and 2007, have no figures listed 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 2024 guideline values 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, placing the guideline value of Sri Vatsa Foundations Main Salai Right below this median.

• Sri Vatsa Foundations Main Salai Left: Rs 1,650 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai: 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 Right

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Sri Vatsa Foundations Main Salai Right 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 property registration in Manapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the duty is calculated based on the higher of the guideline value or the sale price of the property.

This means that if the sale price exceeds the guideline value, the stamp duty will be based on the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sri Vatsa Foundations Main Salai Right?

The current guideline value of Sri Vatsa Foundations Main Salai Right 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 2023 to Rs 1,650 per sq.ft in 2024, an increase of 10%. It was Rs 1,005 per sq.ft in 2017, which was a 49% increase from the previous revision.

What is the land classification for this area?

Sri Vatsa Foundations Main Salai Right is classified as Residential Class IV Type - III, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Sri Vatsa Foundations Main Salai Right is 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 this area?

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 would be Rs 1,15,500 at 7%.