Guideline Value for MAANSOLAI NAGAR 1ST STREET

Maansolai Nagar 1st Street guideline value

The current guideline value of Maansolai Nagar 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Maansolai Nagar 1st Street has changed

The guideline value for Maansolai Nagar 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 583 per sq.ft, which increased to Rs 672 per sq.ft in 2003, marking a 15% rise. The value saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 49% jump. By 2012, the value reached Rs 4,500 per sq.ft, reflecting a substantial increase of 350% from the previous revision.

In 2017, the guideline value decreased to Rs 3,015 per sq.ft, showing a decline of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, followed by a further rise to Rs 4,950 per sq.ft in 2024, representing a 10% increase. The overall change from 2002 to 2024 shows an increase of 749% in the guideline value for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, placing Maansolai Nagar 1st Street's 2024 guideline value above this median.

• Maansolai Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Amman St: Rs 3,080 per sq.ft (2024)
• Lasar Street: Rs 4,620 per sq.ft (2024)
• Lakshmi Vinayagar Koil Street: Rs 4,620 per sq.ft (2024)
• Mancholai 1st Main Rd: Rs 4,950 per sq.ft (2024)
• Mancholai 2nd Main Rd: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Maansolai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maansolai Nagar 1st Street?

The Sub Registrar Office that covers Maansolai Nagar 1st Street 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 Ekkaduthangal

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Maansolai Nagar 1st Street?

The current guideline value of Maansolai Nagar 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 583 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 749% over the years.

What is the land classification for Maansolai Nagar 1st Street?

Maansolai Nagar 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles the registration for Maansolai Nagar 1st Street?

The registration for Maansolai Nagar 1st Street is handled by 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.