Guideline Value for Manthoppu Street

Manthoppu Street guideline value

The current guideline value of Manthoppu Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Manthoppu Street has changed

The guideline value for Manthoppu Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. In 2023, the value was further reduced to Rs 100 per sq.ft, reflecting a 25% decline from the previous revision. The register has no figures for the years 2002, 2003, and 2007.

However, the latest revision in 2024 has increased the guideline value to Rs 200 per sq.ft, representing a significant rise of 100% from the 2023 figure. Overall, comparing the values from 2012 to 2024, there has been no net change, as the value remains the same as it was in 2012.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO with 2024 guideline values ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Manthoppu Street's 2024 guideline value is below this median.

• Mekkar Street: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Mevaloorkuppam Nedunsalai: Rs 400 per sq.ft (2024)
• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Madha Koil Street Nedunsalai: Rs 300 per sq.ft (2024)
• Moorthiyar Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Manthoppu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, calculated at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. 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 Street?

The Sub Registrar Office that covers Manthoppu Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mevaloorkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Manthoppu Street?

The current guideline value of Manthoppu Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally back to Rs 200 per sq.ft in 2024.

What is the land classification for Manthoppu Street?

Manthoppu Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Manthoppu Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty of Rs 14,000.