Guideline Value for Manavalan Street (Vetri Nagar Extension)

Manavalan Street (Vetri Nagar Extension) guideline value

The current guideline value of Manavalan Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Residential Special Type - II land classification.

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

Over the years, the guideline value of Manavalan Street (Vetri Nagar Extension) has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 2,010 per sq.ft in 2017, which is a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by the current rate of Rs 3,301 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. The overall change from the 2007 figure to the current 2024 figure shows an increase of 230%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Manavalan Street (Vetri Nagar Extension).

• Manavalan 2nd Cross Street (Vetri Nagar Extension): Rs 2,700 per sq.ft (2024)
• 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)
• 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 Street (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total cost to Rs 2,97,090. 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 accurate calculations.

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

The Sub Registrar Office that covers Manavalan Street (Vetri Nagar Extension) 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 is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair value of the property in question. It is essential for both parties to be aware of the guideline value to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value of Manavalan Street (Vetri Nagar Extension)?

The current guideline value of Manavalan Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, showing an overall increase of 230% over the years.

What is the land classification for Manavalan Street (Vetri Nagar Extension)?

Manavalan Street (Vetri Nagar Extension) is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Manavalan Street (Vetri Nagar Extension)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,31,070.