Guideline Value for Manthoppu 2nd Street

Manthoppu 2nd Street guideline value

The current guideline value of Manthoppu 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Manthoppu 2nd Street has changed

The guideline value for Manthoppu 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 333 per sq.ft, which increased to Rs 375 per sq.ft in 2003, marking a change of +13%. The value then experienced a significant rise to Rs 3,500 per sq.ft in 2012, reflecting an increase of +833%. The latest revision in 2024 set the value at Rs 3,850 per sq.ft, which is a +10% change from the 2012 figure.

There are no registered figures for the years 2007, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1056%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that Manthoppu 2nd Street's 2024 figure is below this median.

• Manthoppu 1st Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 3rd Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 4th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 5th Street: Rs 3,850 per sq.ft (2024)
• Marbidas Road: Rs 5,500 per sq.ft (2024)
• Marbidas Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Manthoppu 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 Manthoppu 2nd Street?

The Sub Registrar Office that covers Manthoppu 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manthoppu 2nd Street?

The current guideline value of Manthoppu 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 333 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1056% over the years.

Are there any years with no registered figures for this street?

Yes, there are no registered figures for Manthoppu 2nd Street in the years 2007, 2017, and 2023.

What is the stamp duty for property in Manthoppu 2nd Street?

The stamp duty for property in Manthoppu 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manthoppu 2nd Street?

The Sub Registrar Office covering Manthoppu 2nd Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.