Guideline Value for Coramandal Town

Coramandal Town guideline value

The current guideline value for Coramandal Town, located in Mannurpet village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Coramandal Town has changed

The guideline value for Coramandal Town has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 322 per sq.ft. This value increased to Rs 400 per sq.ft in 2003, marking a 24% rise. The subsequent revisions saw significant changes, with the value jumping to Rs 1,500 per sq.ft in 2007, a remarkable increase of 275%. In 2012, the value changed to Rs 5,000 per sq.ft, which was a decrease of 33% from the previous revision.

From 2012, the guideline value rose to Rs 3,350 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, and the current value for 2024 is Rs 5,500 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,608%.

Guideline values in Mannurpet

In Mannurpet, there are 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Coramandal Town is above this median, reflecting its unique position within the village.

• Elango Nagar: Rs 1,100 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,700 per sq.ft (2024)
• Govt I.T. I Colony: Rs 1,100 per sq.ft (2024)
• Ishravel Nagar: Rs 1,100 per sq.ft (2024)
• Anantha Naidu Street: Rs 1,700 per sq.ft (2024)
• Amman Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Coramandal Town

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Coramandal Town?

The Sub Registrar Office that covers Coramandal Town is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Mannurpet. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the transfer of property ownership. Buyers and sellers should be aware that the guideline value is used to determine the minimum value at which a property can be registered.

When engaging in a property transaction, it is essential to consult the guideline value to ensure compliance with local regulations. The guideline value is updated periodically, reflecting changes in the market and local conditions, and it is important to verify the current rates before proceeding with any transactions.

Frequently asked questions

What is the current guideline value for Coramandal Town?

The current guideline value for Coramandal Town is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 322 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 1,608%.

What are the stamp duty and registration fees for property in Coramandal Town?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in Coramandal Town?

The Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, handles property registrations for Coramandal Town.

How is the guideline value determined for properties in Mannurpet?

The guideline value for properties in Mannurpet is determined based on periodic revisions conducted by the Registration Department, reflecting local market conditions and land classifications.