Guideline Value for MACRO MARVAL 4TH LEFT CROSS STREET

Macro Marval 4th Left Cross Street guideline value

The current guideline value of Macro Marval 4th Left Cross Street is Rs 2,420 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 III Type - I.

How the guideline value of Macro Marval 4th Left Cross Street has changed

The guideline value for Macro Marval 4th Left Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 2,200 per sq.ft in the 2023 revision, and then a further increase to Rs 2,420 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision is a modest increase of 10%. It is important to note that 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 value for these streets is Rs 2,530 per sq.ft, making the guideline value for Macro Marval 4th Left Cross Street below this median.

• Macro Marval 3rd 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 3rd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Macro Marval 5th 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 5th Right Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Macro Marval 4th Left 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 to Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Macro Marval 4th Left Cross Street?

The Macro Marval 4th Left Cross Street falls under 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 critical factor in property transactions in Manapakkam. It is used to calculate the stamp duty and registration fees that are payable when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property, which is essential for legal documentation and compliance. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Macro Marval 4th Left Cross Street?

The current guideline value of Macro Marval 4th Left 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 back 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 4th Left Cross Street?

Macro Marval 4th Left Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for this street?

The registration office for Macro Marval 4th 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at 7%.