Guideline Value for Mancholai 2nd Main Rd

Mancholai 2nd Main Rd guideline value

The current guideline value of Mancholai 2nd Main Rd is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mancholai 2nd Main Rd has changed

The guideline value for Mancholai 2nd Main Rd has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 4,500 per sq.ft. This figure decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a total increase of 10%.

Guideline values in Ekkaduthangal

Ekkaduthangal has a total of 190 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 4,620 per sq.ft, placing Mancholai 2nd Main Rd above this median at Rs 4,950 per sq.ft.

• Mancholai 1st Main Rd: Rs 4,950 per sq.ft (2024)
• Mancholai 3rd St: Rs 4,950 per sq.ft (2024)
• Mancholai St: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Amman St: Rs 3,080 per sq.ft (2024)
• Maansolai Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Maansolai Nagar 1st Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Mancholai 2nd Main Rd

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mancholai 2nd Main Rd?

The Sub Registrar Office covering Mancholai 2nd Main Rd 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 information.

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

The guideline value is a crucial factor when registering property in Ekkaduthangal, as it determines the amount of stamp duty and registration fees that need to be paid. Buyers and sellers must ensure that the transaction value is in accordance with the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Mancholai 2nd Main Rd?

The current guideline value of Mancholai 2nd Main Rd is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024.

What is the land classification for Mancholai 2nd Main Rd?

The land classification for Mancholai 2nd Main Rd is Residential Class I Type - I.

What are the stamp duty and registration fees for a property on this road?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 49,50,000, with stamp duty at Rs 3,46,500 and registration fees at Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for Mancholai 2nd Main Rd?

The Chennai South Joint I Sub Registrar Office handles registrations for Mancholai 2nd Main Rd, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.