Guideline Value for MANTHAVELI 1ST STREET

Manthaveli 1st Street guideline value

The current guideline value of Manthaveli 1st Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Manthaveli 1st Street has changed

Looking at the revisions, the guideline value for Manthaveli 1st Street has seen significant changes over the years. In 2012, the value was Rs 1,750 per sq.ft, which then decreased to Rs 1,172 per sq.ft in 2017. Following this, the value increased to Rs 1,750 per sq.ft in 2023, and subsequently rose to Rs 1,930 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which is the same as the guideline value for Manthaveli 1st Street.

• Manthaveli Cross Street: Rs 1,650 per sq.ft (2024)
• Manthaveli Main Road: Rs 1,930 per sq.ft (2024)
• Maragatham Nagar: Rs 1,930 per sq.ft (2024)
• Mandaveli Colony 1st & 2nd Street: Rs 1,930 per sq.ft (2024)
• Mahalskhmi Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Manthaveli 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value would be Rs 19,30,000. The stamp duty at 7% would amount to Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, bringing the total to Rs 1,73,700. 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 Manthaveli 1st Street?

The Sub Registrar Office that covers Manthaveli 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Manthaveli 1st Street?

The current guideline value of Manthaveli 1st Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then increased to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What is the land classification of Manthaveli 1st Street?

Manthaveli 1st Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Manthaveli 1st Street?

The Sub Registrar Office for Manthaveli 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Manthaveli 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,30,000, the stamp duty would be Rs 1,35,100 at a rate of 7%.