Guideline Value for MACRO MARVAL 7TH RIGHT CROSS STREET

Macro Marval 7th Right Cross Street guideline value

The current guideline value of Macro Marval 7th Right 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 Right Cross Street has changed

Over the years, the guideline value for Macro Marval 7th Right Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. For the years 2002, 2003, and 2007, the register has no figure 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, placing the 2024 figure for Macro Marval 7th Right Cross Street below this median.

• Macro Marval 7th Left Cross Street: Rs 2,420 per sq.ft (2024)
• Macro Marval Main Road: Rs 2,420 per sq.ft (2024)
• Macro Marval 6th 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 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 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, charged at 7%, would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Therefore, the total cost for stamp duty and registration fees together would be Rs 2,17,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Macro Marval 7th Right 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

The guideline value is an important factor 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 transparency and consistency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Macro Marval 7th Right Cross Street?

The current guideline value of Macro Marval 7th 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 back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

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 in 2024 include Macro Marval 7th Left Cross Street, Macro Marval Main Road, Macro Marval 6th Right Cross Street, Macro Marval 6th Left Cross Street, Macro Marval 5th Right Cross Street, and Macro Marval 5th Left Cross Street.

Where can I find the Sub Registrar Office for Macro Marval 7th Right Cross Street?

The Sub Registrar Office covering Macro Marval 7th Right Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated for properties in Manapakkam?

Stamp duty and registration fees for properties in Manapakkam are calculated based on the guideline value or the sale price, whichever is higher. The current rates are 7% for stamp duty and 2% for the registration fee.