Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street in Periyakuppam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 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 seen several revisions over the years. In the 2007 revision, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, and the latest 2024 revision has increased it to Rs 1,100 per sq.ft, reflecting a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 regarding this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Manimegalai Street.

• Maniyammai Cross Street: Rs 1,100 per sq.ft (2024)
• Maniyammap Street: Rs 1,100 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 1,100 per sq.ft (2024)
• M.G.R.Nagar: Rs 1,100 per sq.ft (2024)
• Mookalathaman Cross Street: Rs 550 per sq.ft (2024)
• Kumaran 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Periyakuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Manimegalai Street?

The current guideline value of Manimegalai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the classification of Manimegalai Street?

Manimegalai Street is classified as Residential Class I Type - III under the Tiruvallur Joint 1 SRO.

What are the stamp duty and registration fees for properties on Manimegalai Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Manimegalai Street located?

The Sub Registrar Office for Manimegalai Street is located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.