Guideline Value for MANIMEGALAI STREET

Manimegalai Street guideline value

The current guideline value of Manimegalai Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Manimegalai Street has changed

In the 2003 revision, the guideline value was Rs 369 per sq.ft. This increased to Rs 550 per sq.ft in 2007, marking a significant change of +49%. The value then saw a substantial rise to Rs 2,500 per sq.ft in the 2012 revision, which represents a remarkable increase of +355%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of +8% from the previous figure.

The register has no figures for the years 2023, 2017, and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +632%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Manimegalai Street.

• Mannarsamy Koil Street: Rs 4,300 per sq.ft (2024)
• Manicka Vinayagar Koil Street: Rs 3,800 per sq.ft (2024)
• Ma.Po.Si Street: Rs 2,700 per sq.ft (2024)
• Manali Salai: Rs 4,900 per sq.ft (2024)
• Malligaipoo Colony Main Road: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manimegalai Street?

The Sub Registrar Office that covers Manimegalai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When you register a property, the guideline value serves as a benchmark for assessing the transaction. It is essential to be aware of this value to understand the costs involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Manimegalai Street?

The current guideline value of Manimegalai Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 369 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of +632%.

What is the land classification of Manimegalai Street?

Manimegalai Street is classified as Residential Class III Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Manimegalai Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% on the guideline value.