Guideline Value for MACRO MARVAL 1ST LEFT CROSS STREET

Macro Marval 1st Left Cross Street guideline value

The current guideline value for Macro Marval 1st Left Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam 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 Macro Marval 1st Left Cross Street has changed

The guideline value for Macro Marval 1st Left Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, it increased by 10%. The register has no figures for the years 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 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, which means that the guideline value for Macro Marval 1st Left Cross Street is above this median.

• Macro Marval 2nd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Macro Marval 2nd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 3rd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Macro Marval 3rd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 4th Left Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 4th Right Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Macro Marval 1st Left Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for stamp duty and registration fees Rs 2,97,000. 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 Macro Marval 1st Left Cross Street?

The Sub Registrar Office that covers Macro Marval 1st Left Cross 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 Manapakkam

The guideline value plays a crucial role in property transactions in Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

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 transaction is in line with the regulatory framework established by the Registration Department.

Frequently asked questions

What is the current guideline value for Macro Marval 1st Left Cross Street?

The current guideline value for Macro Marval 1st Left Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, before rising to Rs 3,000 per sq.ft in 2023.

What is the median guideline value in Manapakkam?

The median guideline value in Manapakkam is Rs 2,530 per sq.ft. The guideline value for Macro Marval 1st Left Cross Street is above this median.

What are the stamp duty and registration fees for a property in Macro Marval 1st Left Cross Street?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Macro Marval 1st Left Cross Street?

The registrations for Macro Marval 1st Left Cross Street are 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.