Guideline Value for MANALI SALAI

Manali Salai guideline value

The current guideline value of Manali Salai is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class I Type - II.

How the guideline value of Manali Salai has changed

The guideline value for Manali Salai has undergone several revisions over the years. Starting from Rs 477 per sq.ft in 2003, it increased to Rs 700 per sq.ft in 2007, marking a change of 47%. The next revision in 2012 saw a significant jump to Rs 4,500 per sq.ft, which was an increase of 543%. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous figure.

It is important to note that there are no figures available for the years 2002, 2017, and 2023 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 927%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Rs 4,900 per sq.ft for Manali Salai is above this median.

• Malligaipoo Colony Main Road: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Manali Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, leading to a total cost of Rs 4,41,000. Please 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 Manali Salai?

The Sub Registrar Office that covers Manali Salai is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official rates set by the government.

When a property transaction occurs, the guideline value helps in assessing the fair value of the property being sold. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Manali Salai?

The current guideline value of Manali Salai is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 477 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 927% over this period.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Which office handles property registrations for Manali Salai?

The Purasaivakkam Sub Registrar Office handles property registrations for Manali Salai, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, while Manali Salai's guideline value is above this median.