Guideline Value for Ko.C. Mani Street

Ko.C. Mani Street guideline value

The current guideline value of Ko.C. Mani Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

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

The guideline value for Ko.C. Mani Street has seen several revisions over the years. In 2003, the value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. This was followed by a jump to Rs 700 per sq.ft in 2012, but then it decreased to Rs 469 per sq.ft in 2017. The value rose again to Rs 700 per sq.ft in 2023 and has now reached Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register has no figure for Ko.C. Mani Street for the year 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the current guideline value for Ko.C. Mani Street.

• Kennedy Street: Rs 770 per sq.ft (2024)
• Kattabomman Street: Rs 770 per sq.ft (2024)
• Kulathu Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Kumaran Street: Rs 660 per sq.ft (2024)
• Kumaravel Street: Rs 770 per sq.ft (2024)
• karikalvalavan Street (Bhavani Nagar): Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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

Ko.C. Mani Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Padiyanallur. It determines the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It helps in establishing a fair transaction value and ensures compliance with legal requirements during the registration process.

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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 350% over this period.

What is the land classification for Ko.C. Mani Street?

Ko.C. Mani Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Redhills Sub Registrar Office?

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

How is stamp duty calculated for properties in Padiyanallur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.