Guideline Value for Manigandan 5th Street

Manigandan 5th Street guideline value

The current guideline value of Manigandan 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Manigandan 5th Street has changed

The guideline value for Manigandan 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 900 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, reflecting a growth of 122%. However, it then decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and further increased to Rs 2,200 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 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 guideline value is Rs 1,600 per sq.ft, placing Manigandan 5th Street's 2024 figure above this median.

• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 3rd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 2nd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manigandan 5th 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 cost to 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. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manigandan 5th Street?

The Sub Registrar Office that covers Manigandan 5th 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 plays a crucial role when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is often considered the minimum value for property transactions.

When a property is sold, the guideline value is checked against the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manigandan 5th Street?

The current guideline value of Manigandan 5th 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 from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What are the stamp duty rates for property in Manigandan 5th Street?

The stamp duty for property in Manigandan 5th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the guideline value determined for properties in Tondaiarpet?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It serves as a reference for calculating stamp duty and registration fees during property transactions.