Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Manimegalai Street has changed

The guideline value for Manimegalai Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased to Rs 1,809 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,700 per sq.ft, and the most recent revision in 2024 set it at Rs 2,970 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 643%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current guideline value for Manimegalai Street.

• Manikandan Nagar: Rs 2,970 per sq.ft (2024)
• Manickam Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Manickam Nagar: Rs 2,420 per sq.ft (2024)
• Ma.Po.Si.Nagar: Rs 2,970 per sq.ft (2024)
• Maragatham 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Maragatham 1st Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. 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 Manimegalai Street?

The Sub Registrar Office that covers Manimegalai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manimegalai Street?

The current guideline value of Manimegalai Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 643% over the years.

What is the stamp duty for property in Manimegalai Street?

The stamp duty for property in Manimegalai Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Manimegalai Street located?

The Sub Registrar Office covering Manimegalai Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values for other streets in Hastinapuram?

Other streets in Hastinapuram have varying guideline values, with the current rates ranging from Rs 2,420 to Rs 3,300 per sq.ft for different streets.