Guideline Value for Manancherri Main Road

Manancherri Main Road guideline value

The current guideline value of Manancherri Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Manancheri village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Manancherri Main Road has changed

The guideline value for Manancherri Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a 10% increase. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Manancherri Main Road's 2024 figure above this median.

• Manancherri Colony: Rs 990 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manancherri Main Road?

The Sub Registrar Office that covers Manancherri Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Manancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value serves as a benchmark. The stamp duty is calculated based on this value or the sale price, whichever is higher, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Manancherri Main Road?

The current guideline value of Manancherri Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value for streets in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, with Manancherri Main Road's current value being above this median.

What fees are associated with property registration in Manancherri?

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Manancherri Main Road?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and you can find more details through the provided link.