Guideline Value for Manthaivelli Street

Manthaivelli Street guideline value

The current guideline value of Manthaivelli Street in Mettupalayam village is Rs 181 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Manthaivelli Street has changed

The guideline value for Manthaivelli Street has seen several revisions over the years. In the 2012 revision, the value was Rs 180 per sq.ft, which then decreased to Rs 121 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 181 per sq.ft, a figure that remained unchanged in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 1%.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, which is equal to the guideline value of Manthaivelli Street.

• Manthaivelli Amman Theru: Rs 181 per sq.ft (2024)
• Mettu Theru: Rs 181 per sq.ft (2024)
• M.G.R Street: Rs 181 per sq.ft (2024)
• Kangaiamman Street: Rs 181 per sq.ft (2024)
• Palash: Rs 500 per sq.ft (2024)
• PalliKooda Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Manthaivelli Street

For a 1,000 sq.ft plot at the current rate of Rs 181 per sq.ft, the guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, totaling Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manthaivelli Street?

The Sub Registrar Office that covers Manthaivelli Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mettupalayam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation purposes. Buyers and sellers must be aware of the guideline value to accurately calculate their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Manthaivelli Street?

The current guideline value of Manthaivelli Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 181 per sq.ft from 2023 to 2024, after increasing from Rs 121 per sq.ft in 2017. The value was Rs 180 per sq.ft in 2012.

What is the land classification of Manthaivelli Street?

Manthaivelli Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Manthaivelli Street?

The Sub Registrar Office for Manthaivelli Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mettupalayam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 1,81,000, the stamp duty would be calculated at 7% of that amount.