Guideline Value for MANO MOUNT CITY

Mano Mount City guideline value

The current guideline value of Mano Mount City, located in Edamichi village under the Salavakkam SRO, is Rs 102 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mano Mount City has changed

The guideline value for Mano Mount City has seen several revisions over the years. The earliest available revision is from 2012, where the value was set at Rs 60 per sq.ft. This increased to Rs 40 per sq.ft in 2017, representing a decrease of 33%. However, from 2017 to 2023, there was a significant rise of 150%, bringing the value to Rs 100 per sq.ft. The most recent revision in 2024 further increased the value to Rs 102 per sq.ft, marking a 2% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 70%.

Guideline values in Edamichi

In Edamichi village, there are four streets under the Salavakkam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 102 per sq.ft. The median guideline value for these streets is Rs 102 per sq.ft, which is equal to the current value for Mano Mount City.

• Nathakollai Street: Rs 100 per sq.ft (2024)
• Star Garden Phase-I: Rs 101 per sq.ft (2024)
• Vijay Raja Kurunchi: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Mano Mount City

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total to Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mano Mount City?

The Sub Registrar Office that covers Mano Mount City 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 Edamichi

The guideline value plays a crucial role when buying or selling property in Edamichi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is the minimum value considered for these calculations.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mano Mount City?

The current guideline value of Mano Mount City is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 102 per sq.ft in 2024, showing an overall increase of 70% over this period.

What are the other streets in Edamichi with their guideline values?

Other streets in Edamichi include Nathakollai Street at Rs 100 per sq.ft, Star Garden Phase-I at Rs 101 per sq.ft, and Vijay Raja Kurunchi at Rs 102 per sq.ft for 2024.

What are the stamp duty and registration fees for properties in Mano Mount City?

For a property valued at Rs 1,02,000, the stamp duty would be Rs 7,140 and the registration fee would be Rs 2,040, totaling Rs 9,180.

Where is the Sub Registrar Office for Mano Mount City located?

The Sub Registrar Office for Mano Mount City is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.