Guideline Value for MACRO MARVAL 6TH RIGHT CROSS STREET

Macro Marval 6th Right Cross Street guideline value

The current guideline value of Macro Marval 6th 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, classified as Residential Class III Type - I.

How the guideline value of Macro Marval 6th Right Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,200 per sq.ft in 2023, followed by a further rise to Rs 2,420 per sq.ft in 2024, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain 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, 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 2024 figure for Macro Marval 6th Right Cross Street is below that median.

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

Stamp duty and registration fee for property in Macro Marval 6th 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. Together, the total cost for duty and registration would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Macro Marval 6th Right Cross Street?

The Sub Registrar Office that covers Macro Marval 6th Right Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Manapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable taxes and fees.

When registering a property, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Macro Marval 6th Right Cross Street?

The current guideline value of Macro Marval 6th 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 seen various changes, with the most recent increase from Rs 2,200 per sq.ft in 2023 to Rs 2,420 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Macro Marval 6th Right Cross Street?

Macro Marval 6th Right Cross Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

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

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

Where can I find the Sub Registrar Office for Macro Marval 6th Right Cross Street?

The Sub Registrar Office for Macro Marval 6th Right Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.