Guideline Value for Manigandan 8th Street

Manigandan 8th Street guideline value

The current guideline value of Manigandan 8th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Manigandan 8th Street has changed

The guideline value for Manigandan 8th Street has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 900 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 122%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. Following this, the value surged to Rs 2,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Manigandan 8th Street's 2024 figure above this median.

• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th 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 8th 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manigandan 8th Street?

The Sub Registrar Office that covers Manigandan 8th 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 in the registration process 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 state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Manigandan 8th Street?

The current guideline value of Manigandan 8th 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 for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Manigandan 8th Street's value being above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manigandan 8th Street?

The Sub Registrar Office for Manigandan 8th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.