Guideline Value for Manthoppu 5th Street

Manthoppu 5th Street guideline value

The current guideline value of Manthoppu 5th 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 5th Street has changed

The guideline value for Manthoppu 5th Street has seen several revisions over the years. In 2002, the value was Rs 306 per sq.ft, which 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 a 337% increase. In 2012, the value remained at Rs 3,500 per sq.ft, and this figure stayed the same until the next revision in 2023. The 2023 revision set the value at Rs 3,500 per sq.ft, which then increased by 10% to Rs 3,850 per sq.ft in 2024.

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

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Manthoppu 5th Street is below this median.

• Manthoppu 4th Street: Rs 3,850 per sq.ft (2024)
• Manthoppu 3rd 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 5th 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, bringing the total cost for these fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Manthoppu 5th Street?

The Sub Registrar Office that covers Manthoppu 5th 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

The guideline value is an important factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the appropriate fees are collected during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manthoppu 5th Street?

The current guideline value of Manthoppu 5th 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%.

What is the stamp duty for property in Manthoppu 5th Street?

The stamp duty for a property valued at Rs 38,50,000 would be Rs 2,69,500, calculated at 7% of the guideline value.

Where is the Sub Registrar Office for Manthoppu 5th Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, based on the higher of the guideline value or the sale price.