Guideline Value for MANONMANIAN STREET (WARD -8)

Manonmanian Street (Ward -8) guideline value

The current guideline value of Manonmanian Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - III.

How the guideline value of Manonmanian Street (Ward -8) has changed

The guideline value for Manonmanian Street (Ward -8) has undergone several revisions over the years. The earliest recorded figure in the register is from 2012, where the guideline value was Rs 1,600 per sq.ft. In 2017, this value decreased to Rs 1,072 per sq.ft, marking a reduction of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 1,600 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 10%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing the 2024 figure for Manonmanian Street (Ward -8) above this median.

• Manonmani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Manonmanian Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for stamp duty and registration fee would be Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manonmanian Street (Ward -8)?

The Sub Registrar Office that covers Manonmanian Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It is the minimum value set by the government for property transactions, ensuring that all sales are registered at a value that reflects the current market conditions. Buyers and sellers must consider this value when negotiating sale prices.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manonmanian Street (Ward -8)?

The current guideline value of Manonmanian Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,760 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Manonmanian Street (Ward -8)?

Manonmanian Street (Ward -8) is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty for properties in Ninna Karai is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.