Guideline Value for Mantheivelli Street

Mantheivelli Street guideline value

The current guideline value of Mantheivelli Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Selvazhimagalam village, under the Sunguvarchattram SRO, classified as Residential Class II Type - I.

How the guideline value of Mantheivelli Street has changed

The guideline value for Mantheivelli Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 200 per sq.ft. In 2017, it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 200 per sq.ft in 2023 and has remained unchanged in the 2024 revision, showing a 49% increase from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Selvazhimagalam

In Selvazhimagalam, there are 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 500 per sq.ft. The median value is Rs 200 per sq.ft, which is the same as the guideline value for Mantheivelli Street.

• Kullakkarai Street: Rs 126 per sq.ft (2024)
• Kodi Street: Rs 200 per sq.ft (2024)
• Jambodai Street: Rs 300 per sq.ft (2024)
• Jambodai Kurukku Street: Rs 300 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)
• Selliamman Kovil Street: Rs 200 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

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 Selvazhimagalam

The guideline value is a crucial factor in property transactions in Selvazhimagalam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to use the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Mantheivelli Street?

The current guideline value of Mantheivelli Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification for Mantheivelli Street?

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

Where is the Sub Registrar Office for Mantheivelli Street located?

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

How is the stamp duty calculated for properties in Mantheivelli Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.