Guideline Value for SRI VATSA FOUNDATIONS MAIN SALAI

Sri Vatsa Foundations Main Salai guideline value

The current guideline value of Sri Vatsa Foundations Main Salai is Rs 1,650 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 IV Type - III.

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

The guideline value for Sri Vatsa Foundations Main Salai has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision saw a significant increase to Rs 1,500 per sq.ft, and the current 2024 revision has further raised it to Rs 1,650 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, between 2017 and 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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, indicating that Sri Vatsa Foundations Main Salai's 2024 figure is below that median.

• Sri Vatsa Foundations Main Salai Left: 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

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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 Sri Vatsa Foundations Main Salai?

The Sub Registrar Office that covers Sri Vatsa Foundations 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 is a crucial 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 applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sri Vatsa Foundations Main Salai 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 back to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft in 2024.

What is the land classification for Sri Vatsa Foundations Main Salai?

Sri Vatsa Foundations Main Salai is classified as Residential Class IV Type - III.

What are the other streets in Manapakkam with guideline values?

Other streets in Manapakkam include Sri Vatsa Foundations Main Salai Left, Sri Vatsa Foundations Main Salai Right, Sujatha Lane, S.V.R. Export, Tank Street, and Thalaivar Munusamy Street, each with varying guideline values.

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

The Sub Registrar Office for Sri Vatsa Foundations Main Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.