Guideline Value for SUJATHA LANE

Sujatha Lane guideline value

The current guideline value of Sujatha Lane, located in Manapakkam village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Sujatha Lane has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose significantly to Rs 3,000 per sq.ft in the 2023 revision, and then increased again to Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

Between 2017 and 2023, the guideline value saw a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,530 per sq.ft. Sujatha Lane's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Sujatha Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sujatha Lane?

The Sub Registrar Office that covers Sujatha Lane 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 transactions in Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is checked against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sujatha Lane?

The current guideline value of Sujatha Lane 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 rising 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 Sujatha Lane?

Sujatha Lane is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties in Sujatha Lane?

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

Which office handles property registrations for Sujatha Lane?

The Chennai South Joint I Sub Registrar Office handles property registrations for Sujatha Lane, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.