Guideline Value for Manthaiveli Street

Manthaiveli Street guideline value

The current guideline value of Manthaiveli Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Thirukalukundrem A village, under the Thirukazhukundram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Manthaiveli Street has changed

The guideline value for Manthaiveli Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 400 per sq.ft, which remains unchanged from the 2023 revision. The previous revision in 2017 recorded a guideline value of Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the only revisions with recorded values are from 2017, 2023, and 2024.

Guideline values in Thirukalukundrem A

In Thirukalukundrem A, there are 149 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,344 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Manthaiveli Street is below this median.

• Mariamman Koil Street: Rs 600 per sq.ft (2024)
• Mangalam West Street (Palla Mangalam): Rs 600 per sq.ft (2024)
• Mangalam Medu: Rs 600 per sq.ft (2024)
• Mandapam Street: Rs 700 per sq.ft (2024)
• Mamallapuram Salai (Payaniyar viduthi varai): Rs 805 per sq.ft (2024)
• Mamallapuram Salai Payaniyar viduthi Muthal Kothimangalam Arampa Ellai varai: Rs 1,005 per sq.ft (2024)

Stamp duty and registration fee for property in Manthaiveli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees together to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Manthaiveli Street?

The Sub Registrar Office that covers Manthaiveli Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thirukalukundrem A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two 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 Manthaiveli Street?

The current guideline value of Manthaiveli Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 400 per sq.ft from 2023 to 2024. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, marking a 49% increase over that period.

What are the guideline values of other streets in Thirukalukundrem A?

Other streets in Thirukalukundrem A have varying guideline values. For example, Mariamman Koil Street and Mangalam West Street both have a guideline value of Rs 600 per sq.ft in 2024, while Mandapam Street has a value of Rs 700 per sq.ft.

What fees are associated with buying property in Manthaiveli Street?

When buying property in Manthaiveli Street, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Manthaiveli Street?

The Thirukazhukundram Sub Registrar Office handles property registrations for Manthaiveli Street, located at Thiruchengode - 637 211, Chengalpattu registration zone.