Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Manimegalai Street has changed

The guideline value for Manimegalai Street has undergone several revisions over the years. The earliest available figure is from 2012, when it was Rs 1,500 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, where it was Rs 1,005 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and in the latest revision for 2024, it has risen to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available in the register for the years 2002, 2003, and 2007 for Manimegalai Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Manimegalai Street.

• Manikandan St: Rs 1,100 per sq.ft (2024)
• Mani Street: Rs 2,200 per sq.ft (2024)
• Mani street ext: Rs 1,650 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,650 per sq.ft (2024)
• Malli Street: Rs 1,320 per sq.ft (2024)
• Malli Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Manimegalai Street?

The Sub Registrar Office covering Manimegalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manimegalai Street?

The current guideline value of Manimegalai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between showing increases and decreases.

What is the land classification for Manimegalai Street?

Manimegalai Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for Manimegalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Manimegalai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.