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 Sattamangalam village under the Chengleput Joint II SRO, classified as Residential Special Type - III.

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

Looking at the historical revisions, the guideline value for Manonmanian Street (Ward -8) was Rs 1,600 per sq.ft in 2023, reflecting a 10% increase to the current value of Rs 1,760 per sq.ft in 2024. Prior to that, in 2017, the value was Rs 1,072 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. The register has no figures for the revisions in 2002, 2003, and 2007.

In 2012, the guideline value was Rs 1,600 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, positioning Manonmanian Street (Ward -8) above this median with its current guideline value of Rs 1,760 per sq.ft.

• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,320 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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is appropriately documented and taxed.

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?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024, representing a 10% increase. It was Rs 1,072 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

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

Manonmanian Street (Ward -8) is classified as Residential Special Type - III, which influences its guideline value and usage.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,58,400 based on the current guideline value.

Where can I find the Sub Registrar Office for Manonmanian Street (Ward -8)?

The Sub Registrar Office for Manonmanian Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.