Guideline Value for Managgappan Street

Managgappan Street guideline value

The current guideline value of Managgappan Street in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Managgappan Street has changed

The guideline value of Managgappan Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 2,680 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 4,000 per sq.ft, and the latest 2024 revision increased it further to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. The change from 2012 to 2017 saw a decrease of 33%, while the 2007 to 2012 period experienced a notable increase of 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the 2024 guideline value of Managgappan Street.

• Malaiyappan Street: Rs 4,400 per sq.ft (2024)
• Malaiya Perumal Street: Rs 8,800 per sq.ft (2024)
• Mangammal Street: Rs 4,400 per sq.ft (2024)
• Mangammal Street 1st Lane: Rs 4,400 per sq.ft (2024)
• ManiKanda Mudali Street: Rs 4,400 per sq.ft (2024)
• Mannarsamy Street (Pakoda Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Managgappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Managgappan Street?

Managgappan Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Managgappan Street?

The current guideline value of Managgappan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Managgappan Street.

What fees are associated with property transactions on Managgappan Street?

For a property on Managgappan Street, the stamp duty is 7% and the registration fee is 2% of the guideline value, which together can amount to a significant sum depending on the property's size.

Where can I find the Sub Registrar Office for Managgappan Street?

The Sowcarpet Sub Registrar Office, which covers Managgappan Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.