Guideline Value for MANIYAKARA STREET @ MUNICHIEF STREET

Maniyakara Street @ Munichief Street guideline value

The current guideline value of Maniyakara Street @ Munichief Street is Rs 126 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Maniyakara Street @ Munichief Street has changed

The guideline value for Maniyakara Street has seen several revisions over the years. In 2012, the guideline value was Rs 125 per sq.ft, which slightly decreased to Rs 84 per sq.ft in 2017. This was a decline of 33%. However, the value increased significantly by 50% to reach Rs 126 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value is Rs 150 per sq.ft, placing Maniyakara Street's 2024 figure below this median.

• Mariyamman Koil Street: Rs 126 per sq.ft (2024)
• Mettu Street: Rs 126 per sq.ft (2024)
• Nakshatra Avenue: Rs 150 per sq.ft (2024)
• Nakshatra Nagar: Rs 100 per sq.ft (2024)
• Karuneegar Street: Rs 150 per sq.ft (2024)
• Kammala Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Maniyakara Street @ Munichief Street

For a 1,000 sq.ft plot at the current rate of Rs 126 per sq.ft, the guideline value amounts to Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, bringing the total to Rs 11,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maniyakara Street @ Munichief Street?

The Sub Registrar Office that covers Maniyakara Street @ Munichief Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Salavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Maniyakara Street @ Munichief Street?

The current guideline value of Maniyakara Street @ Munichief Street is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, with the most recent being Rs 126 per sq.ft in both 2023 and 2024. It was Rs 84 per sq.ft in 2017 and Rs 125 per sq.ft in 2012.

What is the median guideline value in Salavakkam?

The median guideline value in Salavakkam is Rs 150 per sq.ft. Maniyakara Street's 2024 figure of Rs 126 is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,26,000, the stamp duty would be Rs 8,820, and the registration fee would be Rs 2,520, totaling Rs 11,340. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Maniyakara Street @ Munichief Street is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.