Guideline Value for MACRO MARVAL 4TH RIGHT CROSS STREET

Macro Marval 4th Right Cross Street guideline value

The current guideline value of Macro Marval 4th Right 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 Right Cross Street has changed

The guideline value for Macro Marval 4th Right Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then dropped to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,420 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. 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 a total of 368 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing the guideline value of Macro Marval 4th Right Cross Street below this median.

• Macro Marval 4th Left Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 5th Left Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 3rd Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 5th 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 6th Left Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Macro Marval 4th 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 to Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Macro Marval 4th 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 the basis for calculating the stamp duty and registration fees that are payable at the time of registration.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two figures is used to determine the stamp duty and registration fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value for Macro Marval 4th Right Cross Street?

The current guideline value for Macro Marval 4th 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 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 this street?

The land classification for Macro Marval 4th Right Cross Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Macro Marval 4th Right Cross Street is 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. For example, for a property valued at Rs 24,20,000, the stamp duty would be calculated at 7% of that amount.