Guideline Value for MANTHOPPU PILLAIYAR KOIL STREET

Manthoppu Pillaiyar Koil Street guideline value

The current guideline value of Manthoppu Pillaiyar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Manthoppu Pillaiyar Koil Street has changed

The guideline value for Manthoppu Pillaiyar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision and finally to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

From 2012 to 2017, there was a decrease of 33%. 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 Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, making the 2024 figure for Manthoppu Pillaiyar Koil Street below this median.

• Mangamabigai Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Mangamabigai Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar Main Road (C.L.Metha Salai): Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar 4th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Manthoppu Pillaiyar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the 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 Pillaiyar Koil Street?

The Sub Registrar Office that covers Manthoppu Pillaiyar Koil Street 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 Okkiyamthuraipakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a buyer approaches the registration office, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the state authorities during the property transaction.

Frequently asked questions

What is the current guideline value of Manthoppu Pillaiyar Koil Street?

The current guideline value of Manthoppu Pillaiyar Koil Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Manthoppu Pillaiyar Koil Street?

Manthoppu Pillaiyar Koil Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for this street?

The Neelankarai Sub Registrar Office handles property registrations for Manthoppu Pillaiyar Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.