Guideline Value for MANIMEGALAI STREET (WARD -4)

Manimegalai Street (Ward -4) guideline value

The current guideline value of Manimegalai Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Manimegalai Street (Ward -4) has changed

The guideline value for Manimegalai Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase of 10% from the 2023 figure of Rs 1,200 per sq.ft. Prior to this, the 2017 revision recorded a guideline value of Rs 804 per sq.ft, which was a significant increase of 49% from the previous value of Rs 1,200 per sq.ft in 2012. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, there has been a 10% increase. The consistent updates in the guideline value reflect changes in the real estate landscape in the area.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, making the current value of Manimegalai Street (Ward -4) above the median.

• Manickavasagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Manimegalai Street (Ward -4)?

The Sub Registrar Office that covers Manimegalai Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Manimegalai Street (Ward -4)?

The current guideline value of Manimegalai Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Manimegalai Street has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, indicating a 49% increase from 2017 to 2023.

What is the classification of land on Manimegalai Street?

The land classification for Manimegalai Street is Residential Special Type - V, which indicates its designated use for residential purposes.

What is the registration office for Manimegalai Street?

The registration office for Manimegalai Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400.