Guideline Value for KO.C.Mani Street

KO.C.Mani Street guideline value

The current guideline value of KO.C.Mani Street in Puzhal village, under the Redhills SRO, is Rs 1,102 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of KO.C.Mani Street has changed

The guideline value for KO.C.Mani Street has undergone several revisions since 2002. In 2002, the value was Rs 662 per sq.ft, which then decreased to Rs 67 per sq.ft in 2003. The value increased to Rs 200 per sq.ft in 2007, followed by a significant rise to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,102 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 66%. Notably, there are no figures available for the revisions in years other than those specified for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median being Rs 1,102 per sq.ft. KO.C.Mani Street's 2024 figure is equal to this median.

• Krishna Nagar Extension: Rs 1,102 per sq.ft (2024)
• Kumari Nagar: Rs 1,102 per sq.ft (2024)
• Karthi Kishore Garden: Rs 1,760 per sq.ft (2024)
• K.V.K. Swamy Street: Rs 1,102 per sq.ft (2024)
• Lakeside 4: Rs 3,000 per sq.ft (2024)
• Kanthasamy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in KO.C.Mani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, while the registration fee at 2% would be Rs 22,040. Together, the total cost for stamp duty and registration fee would be Rs 99,180. 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 detailed calculations.

Which Sub Registrar Office covers KO.C.Mani Street?

The Sub Registrar Office that covers KO.C.Mani Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a critical factor when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, which are mandatory for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of KO.C.Mani Street?

The current guideline value of KO.C.Mani Street is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 662 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, marking an overall increase of 66% over the years.

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with a guideline value of Rs 1,102 per sq.ft include Krishna Nagar Extension, Kumari Nagar, and K.V.K. Swamy Street.

How is the stamp duty calculated for properties in KO.C.M.Mani Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,02,000, the stamp duty would be Rs 77,140 at a rate of 7%.

Where can I find the Sub Registrar Office for KO.C.Mani Street?

The Sub Registrar Office for KO.C.Mani Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.