Guideline Value for Manthopu Colony

Manthopu Colony guideline value

The current guideline value of Manthopu Colony, located in Ambattur village under the Ambattur SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Manthopu Colony has changed

The guideline value for Manthopu Colony has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. In the subsequent revision in 2023, the value increased to Rs 2,300 per sq.ft, followed by a further increase to Rs 2,500 per sq.ft in 2024, representing a 9% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value for Manthopu Colony is below this median.

• Manika Vinayagar Koil St. (Ramapuram): Rs 3,600 per sq.ft (2024)
• Maruthi Street: Rs 4,000 per sq.ft (2024)
• Manganath Street (Manjunathan Street): Rs 3,600 per sq.ft (2024)
• Mangalapuram Thiru-vi-ka Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram pillaiar koil Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Periyar 2nd Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Manthopu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty, calculated at 7%, would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manthopu Colony?

The Sub Registrar Office that covers Manthopu Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. Therefore, it is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Manthopu Colony?

The current guideline value of Manthopu Colony is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Manthopu Colony?

Manthopu Colony is classified as Residential Class III Type - II.

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

The Sub Registrar Office for Manthopu Colony is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Manthopu 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 25,00,000, the stamp duty would be Rs 1,75,000.