Guideline Value for Manthoppu 4th Street

Manthoppu 4th Street guideline value

The current guideline value of Manthoppu 4th 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 4th Street has changed

The guideline value for Manthoppu 4th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 306 per sq.ft. This increased to Rs 343 per sq.ft in 2003, marking a rise of 12%. The value then experienced a significant jump to Rs 1,500 per sq.ft in 2007, reflecting an increase of 337%. In 2012, the value remained unchanged at Rs 3,500 per sq.ft. The next revision in 2023 also recorded no change, keeping the value at Rs 3,500 per sq.ft. Finally, the 2024 revision saw the guideline value rise to Rs 3,850 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,158%. It is important to note that there is no figure available for this street in the 2017 revision.

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. The median guideline value for these streets is Rs 4,400 per sq.ft, which means that the 2024 figure for Manthoppu 4th Street is below this median.

• Manthoppu 3rd Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 5th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 2nd Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 1st 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 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to 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, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manthoppu 4th Street?

The Sub Registrar Office that covers Manthoppu 4th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Manthoppu 4th Street?

The current guideline value of Manthoppu 4th 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 significantly from Rs 306 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,158% over this period.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is higher than the current guideline value of Manthoppu 4th Street.

What are the stamp duty and registration fees for property in Manthoppu 4th Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 3,46,500, based on the guideline value of Rs 38,50,000.

Which office handles registrations for Manthoppu 4th Street?

The Velacheri Sub Registrar Office handles registrations for Manthoppu 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.