Guideline Value for MACRO MARVAL 3RD RIGHT CROSS STREET

Macro Marval 3rd Right Cross Street guideline value

The current guideline value of Macro Marval 3rd Right Cross Street is Rs 2,420 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 III Type - I.

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

Since the 2012 revision, the guideline value for Macro Marval 3rd Right Cross Street has seen several changes. In 2012, the value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,200 per sq.ft. The latest revision in 2024 has further increased the guideline value by 10% to Rs 2,420 per sq.ft.

The register has no figure for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Macro Marval 3rd Right Cross Street's 2024 figure below that median.

• Macro Marval 3rd 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 2nd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 4th 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 5th Left Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Macro Marval 3rd Right Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost for these fees to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Macro Marval 3rd Right 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 is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the transaction is in compliance with legal requirements. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

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

The current guideline value of Macro Marval 3rd Right Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

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

The land classification for Macro Marval 3rd Right Cross Street is Residential Class III Type - I.

Which office handles the registration for this area?

The Chennai South Joint I Sub Registrar Office handles the registration for Macro Marval 3rd Right Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Manapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 24,20,000, the stamp duty would be 7% of that amount.