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 Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the value increased significantly to Rs 1,200 per sq.ft, and the latest revision in 2024 shows an increase to Rs 1,320 per sq.ft.

From 2017 to 2023, there was a substantial increase of 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, comparing the 2012 figure to the current 2024 value shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Manimegalai Street's 2024 figure above this 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, calculated 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.

For more information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in accordance with local regulations.

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 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 1,320 per sq.ft in 2024.

What is the land classification for Manimegalai Street?

The land classification for Manimegalai Street (Ward -4) is Residential Special Type - V.

What are the stamp duty and registration fees for properties in this area?

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, totaling Rs 1,18,800.

Which office handles registrations for Manimegalai Street?

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