Guideline Value

Corporate

Guideline Value for Manthi Naicken 1st Street

₹2750/sq.ft.

The guideline value for Manthi Naicken 1st Street in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Manthi Naicken 1st Street

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Manthi Naicken 1st Street guideline value

The current guideline value of Manthi Naicken 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Manthi Naicken 1st Street has changed

The guideline value for Manthi Naicken 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure saw a decrease to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, indicating that the guideline value for Manthi Naicken 1st Street is below this median.

Stamp duty and registration fee for property in Manthi Naicken 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500. 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 more information.

Which Sub Registrar Office covers Manthi Naicken 1st Street?

The Sub Registrar Office that covers Manthi Naicken 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value of the property, which is essential for calculating stamp duty and registration fees during the transaction.

When registering a property, the guideline value will be used to ensure that the transaction is recorded at a fair value, which assists in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Manthi Naicken 1st Street?

The current guideline value of Manthi Naicken 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Manthi Naicken 1st Street?

The land classification for Manthi Naicken 1st Street is Residential Class II Type - II.

How is stamp duty calculated for properties in Manthi Naicken 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate results in a total stamp duty of Rs 1,92,500.

Which office handles registration for properties in this area?

The Chennai South Joint II Sub Registrar Office handles the registration for properties in Manthi Naicken 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.