Guideline Value for Mantheivelli Street

Mantheivelli Street guideline value

The current guideline value of Mantheivelli Street is Rs 305 per sq.ft, effective from 1 July 2024. This street is located in Podavoor village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of Mantheivelli Street has changed

The guideline value for Mantheivelli Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 300 per sq.ft. In 2017, this value decreased to Rs 201 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 300 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 305 per sq.ft, reflecting a 2% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Mantheivelli Street.

Guideline values in Podavoor

In Podavoor village, there are 20 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 181 to Rs 600 per sq.ft. The median value among these streets is Rs 250 per sq.ft, positioning Mantheivelli Street's 2024 figure above this median.

• New Colony: Rs 181 per sq.ft (2024)
• Padasalai Street: Rs 300 per sq.ft (2024)
• Padavattamman Kovil Street: Rs 300 per sq.ft (2024)
• Kamadenu Forms: Rs 181 per sq.ft (2024)
• Ponjothi Garden: Rs 500 per sq.ft (2024)
• Ellaiamman Kovil Street: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Mantheivelli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty at 7% would amount to Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total fees to Rs 27,450. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mantheivelli Street?

The Sub Registrar Office that covers Mantheivelli 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 Podavoor

The guideline value is a crucial factor during the registration of property transactions in Podavoor. It serves as a benchmark to determine the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying compared to the registered rates in the area.

Frequently asked questions

What is the current guideline value of Mantheivelli Street?

The current guideline value of Mantheivelli Street is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mantheivelli Street has changed from Rs 300 in 2012 to Rs 201 in 2017, then increased to Rs 300 in 2023, and finally to Rs 305 in 2024.

What are the other streets in Podavoor with their guideline values?

There are several other streets in Podavoor with varying guideline values. For instance, New Colony is valued at Rs 181 per sq.ft, while Ponjothi Garden is valued at Rs 500 per sq.ft in 2024.

What fees are associated with property transactions in Mantheivelli Street?

For a property transaction in Mantheivelli Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. Together, these fees can amount to a significant cost when purchasing property.

Where is the Sub Registrar Office for Mantheivelli Street located?

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