Guideline Value for MANNAR REDDY STREET

Mannar Reddy Street guideline value

The current guideline value of Mannar Reddy Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Mannar Reddy Street has changed

The guideline value for Mannar Reddy Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 1,322 per sq.ft. In 2003, it increased to Rs 1,468 per sq.ft, marking an increase of 11%. The next revision in 2007 saw a significant jump to Rs 3,000 per sq.ft, which was a 104% increase. By 2012, the value was Rs 7,000 per sq.ft, reflecting a 133% rise from the previous revision. However, in 2017, it decreased to Rs 4,690 per sq.ft, showing a decline of 33%. The 2023 revision brought the value back up to Rs 7,000 per sq.ft, and the most recent 2024 revision set it at Rs 7,700 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 482%. There are no figures available for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value for Mannar Reddy Street is below this median.

• Manokaran Street: Rs 7,700 per sq.ft (2024)
• Mangesh Street: Rs 13,200 per sq.ft (2024)
• Masilamani Street: Rs 11,000 per sq.ft (2024)
• Mambalam High Road: Rs 11,000 per sq.ft (2024)
• Maloney Road: Rs 11,000 per sq.ft (2024)
• Malligai Nagar (M.T.B.Scheme): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mannar Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total charges would be Rs 6,93,000. 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 information.

Which Sub Registrar Office covers Mannar Reddy Street?

The Sub Registrar Office that covers Mannar Reddy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and fairly. Buyers and sellers must consider this value to comply with legal requirements and obligations during the property registration process.

Frequently asked questions

What is the current guideline value of Mannar Reddy Street?

The current guideline value of Mannar Reddy Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,322 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, representing an overall increase of 482% over the years.

What is the land classification for Mannar Reddy Street?

The land classification for Mannar Reddy Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Mannar Reddy Street?

The Thiyagaraya nagar Sub Registrar Office covers Mannar Reddy Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.