Guideline Value for MACRO MARVAL 3RD LEFT CROSS STREET

Macro Marval 3rd Left Cross Street guideline value

The current guideline value of Macro Marval 3rd Left Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Macro Marval 3rd Left Cross Street has changed

The guideline value for Macro Marval 3rd Left Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 3,000 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 2,010 per sq.ft. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value across these streets is Rs 2,530 per sq.ft, making the guideline value of Macro Marval 3rd Left Cross Street above this median.

• Macro Marval 2nd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 3rd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 2nd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Macro Marval 4th Left Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 1st Left Cross Street: Rs 3,300 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 3rd 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 would be 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, bringing the total amount to Rs 2,97,000. It is important to note that 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Macro Marval 3rd Left Cross Street?

The Sub Registrar Office that covers Macro Marval 3rd 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. This ensures that the government receives the appropriate revenue based on the property's value.

When a buyer or seller approaches the registration office, the guideline value is assessed to ascertain the applicable fees. This value is essential for both parties to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of Macro Marval 3rd Left Cross Street?

The current guideline value of Macro Marval 3rd 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, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Macro Marval 3rd Left Cross Street?

Macro Marval 3rd Left Cross Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Macro Marval 3rd 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.