Guideline Value for Mantharayalaya Nagar

Mantharayalaya Nagar guideline value

The current guideline value of Mantharayalaya Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This locality is situated in Atanancheri village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mantharayalaya Nagar has changed

The guideline value for Mantharayalaya Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, where it rose to Rs 402 per sq.ft, marking a 49% increase from the previous revision. The value then remained the same at Rs 600 per sq.ft for the 2023 revision and continues at this rate for the 2024 revision, indicating no change from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Mantharayalaya Nagar's 2024 figure below this median.

• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• M.K.R. Nagar: Rs 600 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Kumaran Nagar (Survey No.135/5): Rs 1,000 per sq.ft (2024)
• Nanci Nagar: Rs 600 per sq.ft (2024)
• Nansi Nagar (Extn): Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Mantharayalaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mantharayalaya Nagar?

The Sub Registrar Office that covers Mantharayalaya Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Atanancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value serves as a reference point for property tax assessments and can influence the overall transaction process. Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Mantharayalaya Nagar?

The current guideline value of Mantharayalaya Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 160 per sq.ft in 2007, rising to Rs 600 per sq.ft in 2012, then to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft for both 2023 and 2024.

What are the guideline values of other streets in Atanancheri?

Other streets in Atanancheri have varying guideline values, with rates ranging from Rs 600 to Rs 1,000 per sq.ft. For example, Mahalakshmi Nagar is valued at Rs 800 per sq.ft, while Kumaran Nagar (Survey No.135/5) is at Rs 1,000 per sq.ft.

How is stamp duty calculated for properties in Mantharayalaya Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000.

Where is the Sub Registrar Office for Mantharayalaya Nagar located?

The Sub Registrar Office for Mantharayalaya Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.