Guideline Value for MEGANTHI BROTHERS MAIN SALAI

Meganthi Brothers Main Salai guideline value

The current guideline value of Meganthi Brothers Main Salai 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 Main Salai has changed

The guideline value for Meganthi Brothers Main Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following that, the value rose significantly to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest revision from 2023 to 2024 shows a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Meganthi Brothers Main Salai's 2024 figure below this median.

• Meganthi Brothers Left Cross Street: 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 Main Salai

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. Together, these fees would total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Meganthi Brothers Main Salai?

The Sub Registrar Office that covers Meganthi Brothers Main Salai 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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value assigned to the property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Meganthi Brothers Main Salai?

The current guideline value of Meganthi Brothers Main Salai 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 increased 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 of Meganthi Brothers Main Salai?

The land classification for Meganthi Brothers Main Salai is Residential Class IV Type - III.

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

The Sub Registrar Office for Meganthi Brothers Main Salai 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.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be calculated at 7% of that amount.