Guideline Value for MACRO MARVAL 5TH RIGHT CROSS STREET

Macro Marval 5th Right Cross Street guideline value

The current guideline value for Macro Marval 5th 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 5th Right Cross Street has changed

The guideline value for Macro Marval 5th Right Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,474 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it to Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 figure to the 2024 figure, the guideline value has increased by 10%. It is important to note that there are no figures available 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, 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, indicating that the guideline value for Macro Marval 5th Right Cross Street is below this median.

• Macro Marval 5th 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 4th Right Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval 6th 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 7th Left Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Macro Marval 5th 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, calculated at 7%, would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, these fees total 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 the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Macro Marval 5th 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 plays a crucial role 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. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any potential legal issues.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, including stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value for Macro Marval 5th Right Cross Street?

The current guideline value for Macro Marval 5th 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 2023 to Rs 2,420 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,474 per sq.ft in 2017, which increased to Rs 2,200 per sq.ft in 2023, a rise of 49%.

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

Other streets in Manapakkam with the same guideline value of Rs 2,420 per sq.ft include Macro Marval 5th Left Cross Street, Macro Marval 6th Left Cross Street, Macro Marval 4th Right Cross Street, Macro Marval 6th Right Cross Street, Macro Marval 4th Left Cross Street, and Macro Marval 7th Left Cross Street.

What is the stamp duty for property in Macro Marval 5th Right Cross Street?

The stamp duty for a property in Macro Marval 5th Right Cross Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,69,400.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office for Macro Marval 5th Right Cross Street at 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 details, you can visit the provided link.