Guideline Value for Manimegalai street

Manimegalai street guideline value

The current guideline value of Manimegalai street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram 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 seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 331 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a significant rise of 81%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no recorded figure for Manimegalai street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 897%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Manimegalai street.

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

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 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?

The Sub Registrar Office that covers Manimegalai street 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

When buying or selling property in Zaminpallavaram, the guideline value is used to determine the stamp duty and registration fees. This value is established by the local authorities and is crucial for ensuring that the correct fees are paid during the registration process.

The guideline value serves as a benchmark for property transactions, and it is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration of property documents.

Frequently asked questions

What is the current guideline value of Manimegalai street?

The current guideline value of Manimegalai street 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 over the years, starting from Rs 331 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 897%.

What are the stamp duty and registration fees for property in Manimegalai street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Manimegalai street?

The Pallavaram Sub Registrar Office covers Manimegalai street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Manimegalai street?

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