Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street in Thalakanancherry village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Manimegalai Street has changed

The guideline value for Manimegalai Street has undergone several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, in 2017, it decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, reflecting an 11% change.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 420%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which matches the current value for Manimegalai Street.

• Manimegalai Colony: Rs 2,800 per sq.ft (2024)
• Mangaiyarkarasi Nagar 46 th street 1st cross street: Rs 3,900 per sq.ft (2024)
• Mangaiyarkarasi Nagar: Rs 3,900 per sq.ft (2024)
• Malaicharivu Road: Rs 2,800 per sq.ft (2024)
• Medavakkam Main road: Rs 5,500 per sq.ft (2024)
• Meenambakkam Building society Colony: Rs 4,400 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Manimegalai Street?

The Sub Registrar Office that covers Manimegalai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thalakanancherry. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount 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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value of Manimegalai Street has seen several revisions, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024.

What is the land classification for Manimegalai Street?

Manimegalai Street is classified as Residential Class I Type - III under the current guidelines.

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

The Sub Registrar Office for Manimegalai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.