Guideline Value for Manigandan 2nd Street

Manigandan 2nd Street guideline value

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

How the guideline value of Manigandan 2nd Street has changed

The guideline value for Manigandan 2nd Street has seen significant changes over the years. In 2007, the value was Rs 900 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017. This marks a 49% increase over that decade. The value then rose to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% change from the previous year.

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

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 is Rs 1,600 per sq.ft, and the guideline value for Manigandan 2nd Street is above this median.

• Manigandan 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Manigandan 2nd Street?

The Sub Registrar Office that covers Manigandan 2nd 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 factor in property transactions in Tondaiarpet, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions, and it helps maintain transparency in the real estate market. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Manigandan 2nd Street?

The current guideline value of Manigandan 2nd 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 increased from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 144%.

What are the stamp duty and registration fees for properties in Manigandan 2nd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations in Tondaiarpet?

The Royapuram Sub Registrar Office handles property registrations in Tondaiarpet, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Manigandan 2nd Street?

Manigandan 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.