Guideline Value for MANIMEGALAI STREET (WARD -4)

Manimegalai Street (Ward -4) guideline value

The current guideline value of Manimegalai Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 804 per sq.ft. However, the value rebounded significantly in the 2023 revision to Rs 1,200 per sq.ft, before increasing again to Rs 1,321 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a notable decline of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Manimegalai Street's 2024 figure above this median.

• Manickavasagar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,321 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 rate of Rs 1,321 per sq.ft, the guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum value at which a property can be registered. When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

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 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the other streets with guideline values in Ninna Karai?

Other streets in Ninna Karai include Manickavasagar Street, Manonmanian Street, Manonmani Street, Mangayarkarasi Street, Maraimalai Adigalar Street, and Mamarathu Gate Union Road, each with their respective guideline values.

What are the stamp duty and registration fees for properties on Manimegalai Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470, and the registration fee would be Rs 26,420, totaling Rs 1,18,890. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Manimegalai Street located?

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