Guideline Value for Manigandan 3rd Street

Manigandan 3rd Street guideline value

The current guideline value of Manigandan 3rd 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 3rd Street has changed

The guideline value for Manigandan 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 900 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017. This marked a 49% rise. The value further increased to Rs 2,000 per sq.ft in 2023, representing another 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 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 Manigandan 3rd Street's 2024 figure above this median.

• Manigandan 2nd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees to Rs 1,98,000. It is important to note that 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 Manigandan 3rd Street?

The Sub Registrar Office that covers Manigandan 3rd 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 the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Manigandan 3rd Street?

The current guideline value of Manigandan 3rd 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 a total increase of 144% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Manigandan 3rd Street?

The Sub Registrar Office for Manigandan 3rd Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct amount is charged based on the property's value.