Guideline Value for MANNAR MUDALI 2ND STREET

Mannar Mudali 2nd Street guideline value

The current guideline value of Mannar Mudali 2nd Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mannar Mudali 2nd Street has changed

The guideline value for Mannar Mudali 2nd Street has seen several revisions over the years. In 2002, the value was Rs 848 per sq.ft, which increased to Rs 931 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly to Rs 1,400 per sq.ft in 2007, reflecting a 50% increase. By 2012, the value remained at Rs 5,300 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 5,300 per sq.ft, maintaining the same figure as 2012.

The most recent revision in 2024 saw the guideline value increase to Rs 5,800 per sq.ft, representing a 9% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 584%.

Guideline values in Puliyur

In Puliyur, there are a total of 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is the same as the current value for Mannar Mudali 2nd Street. Below are some of the other streets in Puliyur:

• Mannar Mudali 1st Street: Rs 5,800 per sq.ft (2024)
• Mariamman Koil Street: Rs 4,600 per sq.ft (2024)
• Mangala Nagar: Rs 3,800 per sq.ft (2024)
• Mayor Sampandam Street: Rs 4,600 per sq.ft (2024)
• Meenakshi Nagar: Rs 3,300 per sq.ft (2024)
• METTU STREET (or) PALANI ANDAVAR KOIL STREET: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mannar Mudali 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannar Mudali 2nd Street?

The Sub Registrar Office that covers Mannar Mudali 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When a buyer or seller agrees on a sale price, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

At the time of registration, if the sale price is higher than the guideline value, the stamp duty will be charged based on the sale price. Conversely, if the sale price is lower, the duty will be calculated on the guideline value, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Mannar Mudali 2nd Street?

The current guideline value of Mannar Mudali 2nd Street is Rs 5,800 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 848 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 584% over this period.

What are the other streets in Puliyur and their guideline values?

Other streets in Puliyur include Mannar Mudali 1st Street at Rs 5,800 per sq.ft, Mariamman Koil Street at Rs 4,600 per sq.ft, and Meenakshi Nagar at Rs 3,300 per sq.ft, among others.

What is the registration fee for property in Mannar Mudali 2nd Street?

The registration fee is calculated as 2% of the guideline value. For a property valued at Rs 58,00,000, the registration fee would be Rs 1,16,000.

Where is the Sub Registrar Office located for Mannar Mudali 2nd Street?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, and it is responsible for property registrations in this area.