Guideline Value for THUNAI SUGATHARA NILAYAM SALAI

Thunai Sugathara Nilayam Salai guideline value

The current guideline value of Thunai Sugathara Nilayam Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thunai Sugathara Nilayam Salai has changed

The guideline value for Thunai Sugathara Nilayam Salai has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure was then reduced to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The most significant change occurred between the 2017 and 2023 revisions, with a 49% increase. It is important to note that there are no figures available for the revisions in 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 guideline value for 2024, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Thunai Sugathara Nilayam Salai's 2024 figure below that median.

• Thulukathamman Koil 3rd Street: Rs 1,650 per sq.ft (2024)
• Thulukathamman Koil 2nd Street: Rs 1,650 per sq.ft (2024)
• Thulukathamman Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Tvs Emerald Peninsula: Rs 3,750 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thunai Sugathara Nilayam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, totaling Rs 1,54,000, and the registration fee is 2%, amounting to Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thunai Sugathara Nilayam Salai?

The Sub Registrar Office that covers Thunai Sugathara Nilayam 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 details.

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

The guideline value is a crucial factor in the property registration process in Manapakkam. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

It is essential for both buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thunai Sugathara Nilayam Salai?

The current guideline value of Thunai Sugathara Nilayam Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Thunai Sugathara Nilayam Salai?

The land classification for Thunai Sugathara Nilayam Salai is Residential Class IV Type - I.

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

The Sub Registrar Office for Thunai Sugathara Nilayam 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.

How is the stamp duty calculated for properties in Thunai Sugathara Nilayam Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.