Guideline Value for KUTTI MANI STREET

Kutti Mani Street guideline value

The current guideline value of Kutti Mani Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kutti Mani Street has changed

Over the years, the guideline value for Kutti Mani Street has seen various revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 125 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 380%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, representing a decline of 33%. The value then increased again to Rs 600 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

The guideline value has consistently been Rs 600 per sq.ft since 2023, with no figures available for the years 2002 and 2003. Overall, from the 2007 figure to the current 2024 figure, there has been an increase of 380%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Kutti Mani Street's 2024 figure below that median.

• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,300 per sq.ft (2024)
• Kumaran Street: Rs 700 per sq.ft (2024)
• Kumaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kumanan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kutti Mani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutti Mani Street?

The Sub Registrar Office that covers Kutti Mani Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kutti Mani Street?

The current guideline value of Kutti Mani Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant change occurring from Rs 125 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, and it has remained at Rs 600 per sq.ft since 2023.

What is the median guideline value for streets in Vengathur?

The median guideline value for streets in Vengathur is Rs 1,000 per sq.ft, making Kutti Mani Street's 2024 figure of Rs 600 per sq.ft below this median.

What are the stamp duty and registration fees for a property in Kutti Mani Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 54,000, which includes a stamp duty of Rs 42,000 and a registration fee of Rs 12,000.

Which office handles property registrations for Kutti Mani Street?

The Manavalanagar Sub Registrar Office handles property registrations for Kutti Mani Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.