Guideline Value for MACRO MARVAL 5TH LEFT CROSS STREET

Macro Marval 5th Left Cross Street guideline value

The current guideline value of Macro Marval 5th Left 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 5th Left Cross Street has changed

The guideline value for Macro Marval 5th Left Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, which is an increase from Rs 2,200 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 1,474 per sq.ft in 2017, reflecting a significant increase of +49% over six years. The 2012 revision also recorded a value of Rs 2,200 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Therefore, the revisions we have are from 2012, 2017, 2023, and the current 2024 figures.

Guideline values in Manapakkam

In Manapakkam, there are 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, making the current value of Macro Marval 5th Left Cross Street below that median.

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

Stamp duty and registration fee for property in Macro Marval 5th 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 amounts to Rs 24,20,000. The stamp duty at 7% would be 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 and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Macro Marval 5th Left Cross Street?

The Macro Marval 5th Left Cross Street is covered 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. You can find your SRO for more information.

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

When buying or selling property in Manapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used to calculate the fees payable during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is compliant with local regulations. This value helps in determining the minimum price at which a property can be registered, thereby safeguarding the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Macro Marval 5th Left Cross Street?

The current guideline value of Macro Marval 5th 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 2023 to Rs 2,420 per sq.ft in 2024, a rise of +10%. It was Rs 1,474 per sq.ft in 2017, which was a +49% increase from that year.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam that share the same guideline value of Rs 2,420 per sq.ft in 2024 include Macro Marval 4th Right Cross Street, Macro Marval 5th Right Cross Street, Macro Marval 4th Left Cross Street, Macro Marval 6th Left Cross Street, Macro Marval 3rd Right Cross Street, and Macro Marval 6th Right Cross Street.

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

The Sub Registrar Office covering Macro Marval 5th Left 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 of the property. For a property valued at Rs 24,20,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.