Guideline Value for Manimegalai Street

Manimegalai Street guideline value

The current guideline value of Manimegalai Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Manimegalai Street has changed

The guideline value of Manimegalai Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. By 2023, the value rose again to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 450%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value of Manimegalai Street.

• Maniyammaiyar Street: Rs 1,100 per sq.ft (2024)
• Maraimalaiadikalar Street: Rs 1,100 per sq.ft (2024)
• Marappan Street: Rs 1,100 per sq.ft (2024)
• Mandabam Street: Rs 1,650 per sq.ft (2024)
• Meenatchi Nagar: Rs 1,650 per sq.ft (2024)
• Mettu Street: Rs 2,200 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total costs together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Thiruvallur

The guideline value is a crucial factor during the registration of property transactions in Thiruvallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures that transactions are conducted transparently and fairly, based on the established values for different areas.

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?

Over the years, the guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. Notable changes include a 400% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the registration office for Manimegalai Street?

The registration office for Manimegalai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total cost would be Rs 99,000.

Where can I find more information about the guideline values in Thiruvallur?

You can find more information about the guideline values in Thiruvallur by checking the registration department's guideline value register or visiting the local Sub Registrar Office.