Guideline Value for Manimegalai street Exten.

Manimegalai street Exten. guideline value

The current guideline value of Manimegalai street Exten. is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Manimegalai street Exten. has changed

The guideline value for Manimegalai street Exten. has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 303 per sq.ft. This value increased to Rs 600 per sq.ft in 2007, marking a significant rise of 98%. In 2012, the guideline value was revised to Rs 3,000 per sq.ft, showing a remarkable increase of 400% from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The next revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

Overall, from 2003 to 2024, the guideline value has increased by 989%. It is important to note that there is no figure available for the revision in 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Manimegalai street Exten.

• Manimegalai street: Rs 3,300 per sq.ft (2024)
• Mani Street: Rs 3,850 per sq.ft (2024)
• Manickavel Nagar (Manickam Street): Rs 2,750 per sq.ft (2024)
• Manickam Nagar: Rs 2,160 per sq.ft (2024)
• Malliga Street: Rs 2,160 per sq.ft (2024)
• Malliga Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai street Exten.

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manimegalai street Exten.?

The Sub Registrar Office that covers Manimegalai street Exten. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees based on the property size and current rates.

When registering a property, it is essential to ensure that the sale price is either equal to or higher than the guideline value. This ensures compliance with local regulations and helps avoid potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Manimegalai street Exten.?

The current guideline value for Manimegalai street Exten. is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 303 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 989% over the years.

What is the land classification for Manimegalai street Exten.?

The land classification for Manimegalai street Exten. is Residential Class I Type - II.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Manimegalai street Exten.?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.