Guideline Value for MEGANTHI BROTHERS LEFT CROSS STREET

Meganthi Brothers Left Cross Street guideline value

The current guideline value for Meganthi Brothers Left Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Meganthi Brothers Left Cross Street has changed

The guideline value for Meganthi Brothers Left Cross Street has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,650 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

Between the revisions, the following changes occurred: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value for Meganthi Brothers Left Cross Street is below this median.

• Meganthi Brothers Main Salai: Rs 1,650 per sq.ft (2024)
• Mettu Colony: Rs 1,980 per sq.ft (2024)
• Mettu Colony Anna Street: Rs 3,300 per sq.ft (2024)
• Mettu Colony Link Road: Rs 1,980 per sq.ft (2024)
• Mayana Salai: Rs 1,100 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Meganthi Brothers Left Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Meganthi Brothers Left Cross Street?

The Sub Registrar Office that covers Meganthi Brothers Left 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. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the registration office uses this value to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Meganthi Brothers Left Cross Street?

The current guideline value for Meganthi Brothers Left Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Meganthi Brothers Left Cross Street?

The land classification for Meganthi Brothers Left Cross Street is Residential Class IV Type - III.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Meganthi Brothers Left Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.