Guideline Value for Manigandan 7th Street

Manigandan 7th Street guideline value

The current guideline value of Manigandan 7th 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 7th Street has changed

The guideline value of Manigandan 7th Street has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then rose significantly to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, the changes were notable. From 2007 to 2012, there was an increase of 122%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 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 in this area is Rs 1,600 per sq.ft, making the 2024 figure for Manigandan 7th Street above this median.

• Manigandan 6th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 8th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 5th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th 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 7th 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 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 details.

Which Sub Registrar Office covers Manigandan 7th Street?

The Sub Registrar Office that covers Manigandan 7th 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 during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable for both buyers and sellers to check the latest guideline values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Manigandan 7th Street?

The current guideline value of Manigandan 7th 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 various increases and decreases over the years.

What is the land classification for Manigandan 7th Street?

Manigandan 7th Street is classified as Residential Class I Type - I.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Manigandan 7th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty and registration fees for a property in Manigandan 7th Street?

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.