Guideline Value for Manavalagar Street / Manavalan Street

Manavalagar Street / Manavalan Street guideline value

The current guideline value for Manavalagar Street / Manavalan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Manavalagar Street / Manavalan Street has changed

The guideline value for Manavalagar Street / Manavalan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from Rs 2,000 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, marking a significant increase of 49% from the previous figure of Rs 2,000 per sq.ft in 2012. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, when looking at the overall change from 2012 to 2024, there has been a net increase of 10%. This indicates fluctuations in the guideline value over the years, reflecting the revisions made by the registration department.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Manavalagar Street / Manavalan Street's 2024 guideline value is below this median.

• Maleeshwari Nagar: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi 1st Street: Rs 2,200 per sq.ft (2024)
• Maraimalai Adigalar Street (Teacher Colony): Rs 2,200 per sq.ft (2024)
• Maraimalar Adigalar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manavalagar Street / Manavalan 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, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manavalagar Street / Manavalan Street?

The Sub Registrar Office that covers Manavalagar Street / Manavalan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Erukancherry. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

When registering a property, the guideline value is compared against the sale price to determine the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value for Manavalagar Street / Manavalan Street?

The current guideline value for Manavalagar Street / Manavalan 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,340 per sq.ft in 2017, and the overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for this street?

Manavalagar Street / Manavalan Street is classified as Residential Class IV Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for this street?

The Madhavaram Sub Registrar Office handles the registration for Manavalagar Street / Manavalan Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.