Guideline Value for Mancholai St

Mancholai St guideline value

The current guideline value of Mancholai St in Ekkaduthangal village is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Mancholai St has changed

The guideline value for Mancholai St has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the value to Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 4,620 per sq.ft, making the current value of Mancholai St above that median.

• Mancholai 3rd St: Rs 4,950 per sq.ft (2024)
• Mancholai 2nd Main Rd: Rs 4,950 per sq.ft (2024)
• Mancholai 1st Main Rd: 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 St

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, while the registration fee at 2% would be Rs 99,000. Together, the total cost for these fees would be Rs 4,45,500. It is important to note that 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 based on your specific property details.

Which Sub Registrar Office covers Mancholai St?

The Sub Registrar Office that covers Mancholai St 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 plays a significant role during the registration of property transactions in Ekkaduthangal. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is taken into account to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Mancholai St?

The current guideline value of Mancholai St 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 of Mancholai St?

Mancholai St is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in Mancholai St?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office covers Mancholai St?

The Chennai South Joint I Sub Registrar Office covers Mancholai St, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.