Guideline Value for MANTHOPPU GARDEN

Manthoppu Garden guideline value

The current guideline value of Manthoppu Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Manthoppu Garden has changed

Over the years, the guideline value of Manthoppu Garden has seen significant changes. The earliest recorded figure in the register is from 2003, at Rs 310 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 61%. The value then surged to Rs 2,000 per sq.ft in 2012, indicating a remarkable increase of 300%. However, between 2012 and 2017, the value decreased by 33% to Rs 1,340 per sq.ft. Following this, the value rose by 49% to Rs 2,000 per sq.ft in 2023, and further increased by 10% to the current figure of Rs 2,200 per sq.ft in 2024.

The register does not have any figures for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Manthoppu Garden's current value above this median.

• Manthoppu Salai: Rs 3,300 per sq.ft (2024)
• Manimekalai Garden: Rs 1,100 per sq.ft (2024)
• Manickam Garden: Rs 1,100 per sq.ft (2024)
• Mandaveli Thidal: Rs 2,200 per sq.ft (2024)
• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Mayana Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manthoppu Garden

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 Manthoppu Garden?

The Sub Registrar Office that covers Manthoppu Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Uthandi. It determines the minimum value at which properties can be registered and is used to calculate the stamp duty and registration fees applicable during the sale or purchase of a property.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction price. Buyers and sellers must consider this value to ensure compliance with legal requirements and to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Manthoppu Garden?

The current guideline value of Manthoppu Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 310 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024. There were various increases and one decrease in this period.

What is the land classification of Manthoppu Garden?

Manthoppu Garden is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Manthoppu Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.