Guideline Value for MANI MUDALI STREET

Mani Mudali Street guideline value

The current guideline value of Mani Mudali Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Mani Mudali Street has changed

The guideline value for Mani Mudali Street has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 1,100 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 127%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. Following this, the guideline value surged to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 150%. The changes between the revisions highlight the fluctuations in the property values over the years, with the most notable increase occurring between 2017 and 2023, where the value rose by 49%.

Guideline values in Saidapet

In Saidapet village, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Mani Mudali Street's 2024 figure is below this median.

• Kuthadum Pillaiyar Koil Street: Rs 4,950 per sq.ft (2024)
• Munusamy Naicker Street: Rs 2,750 per sq.ft (2024)
• Murahari Street: Rs 2,750 per sq.ft (2024)
• Kodambakkam Road 12 Feet Lane: Rs 4,400 per sq.ft (2024)
• Kodambakkam Road: Rs 8,250 per sq.ft (2024)
• Kistappa Naicker Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mani Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Mani Mudali Street?

The Sub Registrar Office that covers Mani Mudali Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recorded. Buyers and sellers must be aware of the current guideline value to accurately calculate their costs during the transaction.

When purchasing property, it is essential to consider the guideline value, as it affects the overall expenses involved in the transaction. The higher the guideline value, the more significant the stamp duty and registration fees will be, impacting the total cost of acquiring the property.

Frequently asked questions

What is the current guideline value of Mani Mudali Street?

The current guideline value of Mani Mudali Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 150% over this period.

What is the median guideline value in Saidapet?

The median guideline value in Saidapet is Rs 3,300 per sq.ft, which is higher than the guideline value of Mani Mudali Street.

What fees are associated with buying property in Mani Mudali Street?

When buying property in Mani Mudali Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% on the guideline value, which together can amount to significant costs.

Where can I find the Sub Registrar Office for Mani Mudali Street?

The Sub Registrar Office for Mani Mudali Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.