Guideline Value for MANI MUDALI STREET

Mani Mudali Street guideline value

The current guideline value of Mani Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mani Mudali Street has changed

The guideline value for Mani Mudali Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, with a value of Rs 589 per sq.ft. This value increased to Rs 763 per sq.ft in 2003, marking a 30% rise. In 2007, the guideline value jumped significantly to Rs 1,100 per sq.ft, reflecting a 44% increase. The next revision in 2012 saw a decrease to Rs 3,000 per sq.ft, a drop of 173%. However, this value was restored to Rs 2,010 per sq.ft in 2017, showing a 49% increase. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, followed by the current value of Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 460%. There are no figures available for the years not listed in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Mani Mudali Street's 2024 figure is below this median.

• Mada Veethi Street: Rs 3,300 per sq.ft (2024)
• Mosque Lane (Plot No.3a Plot No.17): Rs 4,400 per sq.ft (2024)
• Mosque Pallam: Rs 4,400 per sq.ft (2024)
• Mosque Street: Rs 4,400 per sq.ft (2024)
• Kuttadum Pillaiyar Koil Street: Rs 4,950 per sq.ft (2024)
• Murahari Road: 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Mani Mudali Street?

The Sub Registrar Office that covers Mani Mudali Street is the Chennai South Joint II 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 details.

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

The guideline value is a critical factor when registering property transactions in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mani Mudali Street?

The current guideline value of Mani Mudali Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 589 per sq.ft to Rs 3,300 per sq.ft in 2024, an overall increase of 460%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Mani Mudali Street?

The registrations for Mani Mudali Street are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Mani Mudali Street?

Mani Mudali Street is classified as Residential Class III Type - I, indicating its designation for residential use.