Guideline Value for Manancherri Colony

Manancherri Colony guideline value

The current guideline value of Manancherri Colony, located in Manancheri village under the Kunrathur SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Manancherri Colony has changed

The guideline value for Manancherri Colony has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017. However, in 2023, the value increased significantly to Rs 900 per sq.ft again, and in the latest revision for 2024, it has risen to Rs 990 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%, indicating a notable change in the valuation of this property area.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value among these streets is Rs 990 per sq.ft, which is equal to the current guideline value of Manancherri Colony.

• Manancherri Main Road: Rs 1,320 per sq.ft (2024)
• Mayana salai: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• M.M.Avenue: Rs 990 per sq.ft (2024)
• Kundrathur Garden Phase III: Rs 990 per sq.ft (2024)
• K.M.K.Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Manancherri Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 Manancherri Colony?

The Sub Registrar Office that covers Manancherri Colony is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Manancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall costs associated with property transactions. Accurate knowledge of this value ensures that all legal obligations are met during the buying or selling process.

Frequently asked questions

What is the current guideline value of Manancherri Colony?

The current guideline value of Manancherri Colony is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Manancherri Colony?

Manancherri Colony falls under the Residential Class I Type - I land classification.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Manancherri Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the guideline value.