Guideline Value for MUKTHI ENCLAVE MAIN SALAI

Mukthi Enclave Main Salai guideline value

The current guideline value of Mukthi Enclave Main Salai is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mukthi Enclave Main Salai has changed

Over the years, the guideline value for Mukthi Enclave Main Salai has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,300 per sq.ft, and the current revision in 2024 further increased it to Rs 2,530 per sq.ft.

Specifically, the change from 2023 to 2024 reflects a 10% increase. The jump from 2017 to 2023 signifies a substantial rise of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, which is the same as the current guideline value for Mukthi Enclave Main Salai.

• Mukthi Enclave: Rs 2,530 per sq.ft (2024)
• Mukthi Enclave Right Cross Street: Rs 2,530 per sq.ft (2024)
• Mugalivakkam Main Road: Rs 3,300 per sq.ft (2024)
• Mount Poonamallee Road: Rs 6,600 per sq.ft (2024)
• Motathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Motathamman Koil 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mukthi Enclave Main Salai

For a 1,000 sq.ft plot at the current rate of Rs 2,530 per sq.ft, the guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mukthi Enclave Main Salai?

The Mukthi Enclave Main Salai falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manapakkam. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable to the transaction. It serves as a reference point for the official valuation of the property.

During the registration process, the guideline value ensures that the property is valued appropriately for taxation purposes. Buyers and sellers must consider this value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Mukthi Enclave Main Salai?

The current guideline value of Mukthi Enclave Main Salai is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Mukthi Enclave Main Salai?

The land classification for Mukthi Enclave Main Salai is Residential Class II Type - I, indicating its suitability for residential purposes.

How is stamp duty calculated for properties in Mukthi Enclave?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,77,100.

Where can I find the Sub Registrar Office for Mukthi Enclave?

The Sub Registrar Office covering Mukthi Enclave Main Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.