Guideline Value for M.R.Rajamanikkam Street

M.R.Rajamanikkam Street guideline value

The current guideline value of M.R.Rajamanikkam Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of M.R.Rajamanikkam Street has changed

Over the years, the guideline value of M.R.Rajamanikkam Street has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, the value then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. It is important to note that the register has no figures for M.R.Rajamanikkam Street for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of M.R.Rajamanikkam Street is below this median.

• MRK Nagar: Rs 1,650 per sq.ft (2024)
• Mudichur Road: Rs 3,960 per sq.ft (2024)
• Mothilal Street: Rs 2,640 per sq.ft (2024)
• Mooventhar Nagar: Rs 2,970 per sq.ft (2024)
• MOOVENDHAR NAGAR EXTN 9th and 11th Street: Rs 3,960 per sq.ft (2024)
• Moovendhar Nagar Extn: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in M.R.Rajamanikkam Street

For a 1,000 sq.ft plot at the current guideline value, the calculation is as follows: guideline value is Rs 16,50,000; stamp duty at 7% amounts to Rs 1,15,500; registration fee at 2% is Rs 33,000; together totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.R.Rajamanikkam Street?

The Sub Registrar Office that covers M.R.Rajamanikkam Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant.

When a property is sold, the buyer and seller must consider the guideline value as it influences the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.R.Rajamanikkam Street?

The current guideline value of M.R.Rajamanikkam Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 1,650 per sq.ft in 2024, representing a 450% overall increase.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 1,48,500, based on the current guideline value.

Which office handles property registrations for M.R.Rajamanikkam Street?

The Padappai Sub Registrar Office handles property registrations for M.R.Rajamanikkam Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for M.R.Rajamanikkam Street?

The land classification for M.R.Rajamanikkam Street is Residential Class IV Type - II.