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 Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

The guideline value for Manimegalai Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and it has now risen to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, 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 Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, positioning 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, making the total fees 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 on calculating fees, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are based on the official valuation set by the authorities.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This helps maintain transparency and fairness in property transactions within the region.

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?

Manimegalai Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

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

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.

Where can I find the Sub Registrar Office for Manimegalai Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.