Guideline Value for Manigandan 6th Street

Manigandan 6th Street guideline value

The current guideline value of Manigandan 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Manigandan 6th Street has changed

Over the years, the guideline value of Manigandan 6th Street has seen several revisions. In 2007, the guideline value was Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then rose significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. There are no figures available for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall change in the guideline value is an increase of 144%. The change from 2012 to 2017 saw a decline of 33%, while the increase from 2017 to 2023 was notable at 49%. The latest revision from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, making the 2024 figure for Manigandan 6th Street above this median.

• Manigandan 5th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 8th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 3rd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manigandan 6th 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manigandan 6th Street?

The Sub Registrar Office that covers Manigandan 6th 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 details.

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

The guideline value is a critical factor in 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 appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Manigandan 6th Street?

The current guideline value of Manigandan 6th 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 is the median guideline value in Tondaiarpet?

The median guideline value for Tondaiarpet is Rs 1,600 per sq.ft, and Manigandan 6th Street's 2024 figure is above this median.

What are the stamp duty and registration fees for a property in Manigandan 6th Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000, based on the guideline value of Rs 22,00,000.

Which office handles property registrations for Manigandan 6th Street?

The Royapuram Sub Registrar Office handles property registrations for Manigandan 6th Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.