Guideline Value for Manthoppu 3rd Street

Manthoppu 3rd Street guideline value

The current guideline value of Manthoppu 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Manthoppu 3rd Street has changed

The guideline value for Manthoppu 3rd Street has seen several revisions over the years. In the 2002 revision, the value was Rs 306 per sq.ft, which increased to Rs 343 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a change of +337%. In 2012, the guideline value remained at Rs 3,500 per sq.ft, with no change recorded until the 2023 revision, which also held the same value. The most recent revision in 2024 saw an increase to Rs 3,850 per sq.ft, representing a change of +10% from the previous year.

It is noteworthy that there is no figure recorded for the 2017 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by +1158%.

Guideline values in Velachery

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

• Manthoppu 2nd Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 4th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 1st 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 3rd 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 be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost 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 3rd Street?

The Sub Registrar Office that covers Manthoppu 3rd 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 more information.

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

When buying or selling property in Velachery, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

The guideline value is established by the Registration Department and is regularly updated to reflect changes in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Manthoppu 3rd Street?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 306 per sq.ft to Rs 3,850 per sq.ft in 2024, representing an overall increase of +1158%.

What are the stamp duty and registration fees for property in Manthoppu 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Manthoppu 3rd Street?

The Velacheri Sub Registrar Office handles registrations for Manthoppu 3rd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets in Velachery with the same guideline value?

Yes, several other streets in Velachery have the same guideline value of Rs 3,850 per sq.ft, including Manthoppu 1st, 2nd, 4th, and 5th Streets, as well as Marbidas Street.