Guideline Value for MUKTHI ENCLAVE

Mukthi Enclave guideline value

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

How the guideline value of Mukthi Enclave has changed

The guideline value for Mukthi Enclave has seen several revisions over the years. In 2012, the value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 is Rs 2,530 per sq.ft, which is equal to the current guideline value of Mukthi Enclave.

• Mukthi Enclave Main Salai: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total 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, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mukthi Enclave?

The Mukthi Enclave area is covered by 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 details.

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

The guideline value plays a crucial role in property transactions in Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is updated periodically based on various factors.

When registering a property, buyers must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mukthi Enclave?

The current guideline value of Mukthi Enclave 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 of Mukthi Enclave?

Mukthi Enclave is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

Where is the Chennai South Joint I SRO located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated in Mukthi Enclave?

Stamp duty in Mukthi Enclave is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.