Guideline Value for Manthoppu Colony

Manthoppu Colony guideline value

The current guideline value of Manthoppu Colony is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Mixed Type - I.

How the guideline value of Manthoppu Colony has changed

The guideline value of Manthoppu Colony has seen several revisions over the years. In 2007, the guideline value was Rs 2,580 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, in 2017, it decreased to Rs 5,360 per sq.ft, before rising again to Rs 8,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 241%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the current guideline value of Manthoppu Colony above that median.

• Manimegalai Street: Rs 3,300 per sq.ft (2024)
• Mariyamman Koil Street Block 80: Rs 3,300 per sq.ft (2024)
• Manikkavasagar Street: Rs 4,100 per sq.ft (2024)
• Mariyappa Naicken Street: Rs 3,300 per sq.ft (2024)
• Marutham Street: Rs 3,300 per sq.ft (2024)
• Manickam Street (W.M): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Manthoppu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Manthoppu Colony?

The Sub Registrar Office covering Manthoppu Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It determines the base value for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a reference point to ascertain the minimum value at which the property can be registered. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Manthoppu Colony?

The current guideline value of Manthoppu Colony is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,580 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with various increases and a decrease in between. The most notable increase was from 2017 to 2023, which saw a rise of 49%.

What is the land classification of Manthoppu Colony?

Manthoppu Colony is classified as Mixed Type - I, which indicates the nature of land use in the area.

Where can I find the Sub Registrar Office for Manthoppu Colony?

The Sub Registrar Office for Manthoppu Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Manthoppu Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the stamp duty would amount to Rs 6,16,000.