Guideline Value for M.T.H. Road

M.T.H. Road guideline value

The current guideline value of M.T.H. Road in Mannurpet village, under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This classification falls under Commercial Class I Type - I.

How the guideline value of M.T.H. Road has changed

The guideline value for M.T.H. Road has seen significant changes over the years. In 2002, the guideline value was Rs 427 per sq.ft. It increased to Rs 470 per sq.ft in 2003, marking a 10% rise. Following this, the value surged dramatically to Rs 3,000 per sq.ft in 2007, reflecting a substantial increase of 538%. In 2012, the value was Rs 5,000 per sq.ft, which represented a decrease of 33% from the previous revision.

The guideline value continued to rise, reaching Rs 3,350 per sq.ft in 2017, which was a 49% increase from the 2012 figure. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, before it increased to Rs 5,500 per sq.ft in 2024, a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1188%.

Guideline values in Mannurpet

Mannurpet has 38 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing M.T.H. Road's 2024 figure above this median.

• Mugapper Road: Rs 3,300 per sq.ft (2024)
• Menambedu Main Road: Rs 2,300 per sq.ft (2024)
• Nehru Nagar: Rs 1,300 per sq.ft (2024)
• Manickam Pillai Street: Rs 1,300 per sq.ft (2024)
• Malaiathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Logappa Naidu Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.T.H. Road

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 together 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.T.H. Road?

The Sub Registrar Office that covers M.T.H. Road is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Mannurpet. It determines the minimum value at which properties are registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the legal and financial aspects of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of M.T.H. Road?

The current guideline value of M.T.H. Road 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 changed significantly from Rs 427 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1188% over the years.

What is the classification of land on M.T.H. Road?

The land classification for M.T.H. Road is Commercial Class I Type - I.

What are the stamp duty and registration fees for properties on M.T.H. Road?

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 the registration for M.T.H. Road?

The Konnur Sub Registrar Office handles the registration for M.T.H. Road, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.