Guideline Value for Manavalan 2nd Cross Street (Vetri Nagar Extension)

Manavalan 2nd Cross Street (Vetri Nagar Extension) guideline value

The current guideline value of Manavalan 2nd Cross Street (Vetri Nagar Extension) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Manavalan 2nd Cross Street (Vetri Nagar Extension) has changed

The guideline value for Manavalan 2nd Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, reflecting a significant rise of 150%. However, the value dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision has increased it further to Rs 2,700 per sq.ft, an increase of 8% from the previous year.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 170%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Manavalan 2nd Cross Street is below this median.

• Manavalan 1st Cross Street (Vetri Nagar Extension): Rs 2,700 per sq.ft (2024)
• Manavalam Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Manavalan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Markandaiyan Street (Jawahar Nagar): Rs 2,400 per sq.ft (2024)
• Markanda Naicken Street: Rs 2,400 per sq.ft (2024)
• Loganathan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Manavalan 2nd Cross Street (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Manavalan 2nd Cross Street (Vetri Nagar Extension)?

The Sub Registrar Office that covers Manavalan 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Peravallur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate transactions. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Manavalan 2nd Cross Street?

The current guideline value of Manavalan 2nd Cross Street (Vetri Nagar Extension) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over this period.

What is the stamp duty for properties in this area?

The stamp duty for properties in Manavalan 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Manavalan 2nd Cross Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Manavalan 2nd Cross Street?

The land classification for Manavalan 2nd Cross Street (Vetri Nagar Extension) is Residential Class I Type - I.