Guideline Value for MACRO MARVAL 7TH LEFT CROSS STREET

Macro Marval 7th Left Cross Street guideline value

The current guideline value for Macro Marval 7th 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 7th Left Cross Street has changed

Over the years, the guideline value for Macro Marval 7th Left Cross Street has undergone several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased 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 then 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, there was a notable increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 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, indicating that the guideline value for Macro Marval 7th Left Cross Street is below this median.

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

Stamp duty and registration fee for property in Macro Marval 7th 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 is charged at 7%, totaling Rs 1,69,400, while the registration fee is charged at 2%, amounting to Rs 48,400. Together, the total cost for these fees is Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Macro Marval 7th Left Cross Street?

The Sub Registrar Office that covers Macro Marval 7th 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. For more information, you can find your SRO.

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, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value for Macro Marval 7th Left Cross Street?

The current guideline value for Macro Marval 7th 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 increased 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 7th Left Cross Street?

The land classification for Macro Marval 7th Left Cross Street is Residential Class III Type - I.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total guideline value is Rs 24,20,000, with a stamp duty of Rs 1,69,400 and a registration fee of Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Macro Marval 7th Left Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.