Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Maathoor village under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of Manimegalai Street has changed

Looking at the historical revisions, the guideline value for Manimegalai Street was Rs 500 per sq.ft in both the 2023 and 2024 revisions, showing no change between these years. The 2017 revision recorded a guideline value of Rs 335 per sq.ft, which indicates a significant increase of 49% to reach the 2023 figure. Prior to that, in the 2012 revision, the value was again Rs 500 per sq.ft, marking a decrease of 33% from the 2017 revision.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Maathoor

In Maathoor village, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median value among these streets is Rs 500 per sq.ft, which is equal to the guideline value of Manimegalai Street.

• Mungilan Kovil Main Road: Rs 500 per sq.ft (2024)
• Mungillamman Kovil Street: Rs 500 per sq.ft (2024)
• K.G.V Nagar: Rs 250 per sq.ft (2024)
• Nehru Street: Rs 500 per sq.ft (2024)
• Kattabomman street: Rs 500 per sq.ft (2024)
• Kambar Street: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manimegalai Street?

The Sub Registrar Office that covers Manimegalai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important reference point when buying or selling property in Maathoor. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. The buyer should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is crucial to ensure that the guideline value is accurately reflected in the documents. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Manimegalai Street?

The current guideline value of Manimegalai Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a notable increase from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What is the land classification of Manimegalai Street?

Manimegalai Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Manimegalai Street?

The Sub Registrar Office for Manimegalai Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 45,000.