Guideline Value for Manigandan 1st Street

Manigandan 1st Street guideline value

The current guideline value of Manigandan 1st Street in Tondaiarpet village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Manigandan 1st Street has changed

Over the years, the guideline value of Manigandan 1st Street has seen significant changes. In the 2007 revision, the value was Rs 900 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a 49% rise. The value then rose to Rs 2,000 per sq.ft in 2023, again showing a 49% increase, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Manigandan 1st Street above this median.

• Manigandan 2nd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 3rd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 5th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manigandan 1st 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 to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manigandan 1st Street?

The Sub Registrar Office that covers Manigandan 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial aspect during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Manigandan 1st Street?

The current guideline value of Manigandan 1st 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 significantly, from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing a total increase of 144% over this period.

What is the stamp duty rate for property in Manigandan 1st Street?

The stamp duty rate for property in Manigandan 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manigandan 1st Street?

The Sub Registrar Office for Manigandan 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What other streets have the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet, such as Manigandan 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street, all share the same guideline value of Rs 2,200 per sq.ft for the year 2024.