Guideline Value for MARVEL RIVERVIEW COUNTY 6TH CROSS STREET

Marvel Riverview County 6th Cross Street guideline value

The current guideline value of Marvel Riverview County 6th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Marvel Riverview County 6th Cross Street has changed

The guideline value for Marvel Riverview County 6th Cross Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Marvel Riverview County 6th Cross Street above this median.

• Marvel Riverview County 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Marvel Riverview County 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Marvel Riverview County 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Marvel Riverview County 6th Cross Street?

The Sub Registrar Office that covers Marvel Riverview County 6th Cross 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.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Manapakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in a property transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Marvel Riverview County 6th Cross Street?

The current guideline value of Marvel Riverview County 6th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value also saw a significant rise from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, which is a 49% increase.

What are the other streets with the same guideline value in Manapakkam?

Other streets in Manapakkam with the same guideline value of Rs 3,300 per sq.ft include Marvel Riverview County 1st, 2nd, 3rd, 4th, 5th, and 7th Cross Streets.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Marvel Riverview County 6th Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Marvel Riverview County 6th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information on how to locate your SRO.