Guideline Value for MAANSOLAI NAGAR 2ND STREET

Maansolai Nagar 2nd Street guideline value

The current guideline value of Maansolai Nagar 2nd 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Maansolai Nagar 2nd Street has changed

The guideline value for Maansolai Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 583 per sq.ft, which increased to Rs 672 per sq.ft in 2003, marking a 15% rise. The value then continued to rise to Rs 1,000 per sq.ft in 2007, reflecting a 49% increase. Following this, the value surged to Rs 4,500 per sq.ft in 2012, a substantial increase of 350%. However, it decreased to Rs 3,015 per sq.ft in 2017, indicating a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, followed by another increase to the current value of Rs 4,950 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows a significant increase of 749% in the guideline value per sq.ft.

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 guideline value for these streets is Rs 4,620 per sq.ft, placing Maansolai Nagar 2nd Street's current value above this median.

• Maansolai Nagar 1st 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 2nd 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 cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maansolai Nagar 2nd Street?

The Sub Registrar Office that covers Maansolai Nagar 2nd 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 benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government standards.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Maansolai Nagar 2nd Street?

The current guideline value of Maansolai Nagar 2nd 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, reflecting an overall increase of 749% over the years.

What is the stamp duty rate for property in Maansolai Nagar 2nd Street?

The stamp duty rate for property in Maansolai Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Maansolai Nagar 2nd Street?

The Sub Registrar Office for Maansolai Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets in Ekkaduthangal with guideline values?

Other streets in Ekkaduthangal have varying guideline values. For instance, Maansolai Nagar 1st Street and Mancholai 1st Main Rd both have a guideline value of Rs 4,950 per sq.ft, while Madurai Meenakshi Amman St has a value of Rs 3,080 per sq.ft.