Guideline Value for Sri Sathya Narayana Nagar

Sri Sathya Narayana Nagar guideline value

The current guideline value of Sri Sathya Narayana Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Sri Sathya Narayana Nagar has changed

The guideline value for Sri Sathya Narayana Nagar has seen several revisions over the years. The earliest recorded figure in the register is from 2012, where the value was Rs 900 per sq.ft. This remained unchanged until 2017, when the value dropped to Rs 603 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 900 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 990 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, indicating that Sri Sathya Narayana Nagar's 2024 figure is below that median.

• Sri Shanmuga Nagar Extn: Rs 1,320 per sq.ft (2024)
• Sri Shumuga Nagar 1st Main Road: Rs 1,320 per sq.ft (2024)
• Sri Shunmuga Nagar: Rs 1,320 per sq.ft (2024)
• Sri Shunmuga Nagar Part I, II: Rs 1,320 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sai Nagar Extension IV: Rs 4,110 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sathya Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sathya Narayana Nagar?

Sri Sathya Narayana Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mannivakkam

The guideline value is a crucial factor during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sri Sathya Narayana Nagar?

The current guideline value for Sri Sathya Narayana Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then up to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sri Sathya Narayana Nagar?

Sri Sathya Narayana Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office registers properties in Sri Sathya Narayana Nagar?

The Gooduvancheri Sub Registrar Office is responsible for registering properties in Sri Sathya Narayana Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu.