Guideline Value for Mani Cross Street

Mani Cross Street guideline value

The current guideline value of Mani Cross Street in Oragadam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Mani Cross Street has changed

The guideline value for Mani Cross Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 267%. However, it then decreased to Rs 1,474 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 2,200 per sq.ft in 2023, and most recently, it has increased to Rs 2,400 per sq.ft in the 2024 revision, which is a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 300%, showcasing the fluctuations in property values over the years.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Mani Cross Street's 2024 figure above this median.

• Manimekalai Street: Rs 1,600 per sq.ft (2024)
• Mani Street(vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Mariamman Koil Street (11th Ward): Rs 1,800 per sq.ft (2024)
• Maruthi Nagar: Rs 1,300 per sq.ft (2024)
• Mahesh Street: Rs 1,600 per sq.ft (2024)
• Maruthi Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mani Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty is charged at 7%, amounting to Rs 1,68,000, and the registration fee is 2%, which equals Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mani Cross Street?

The Sub Registrar Office that covers Mani Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers should be aware that these costs can significantly affect the overall expense of purchasing property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. This helps maintain transparency in property transactions and ensures that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Mani Cross Street?

The current guideline value of Mani Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for property in Mani Cross Street?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Mani Cross Street?

The Ambattur Sub Registrar Office covers Mani Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the land classification of Mani Cross Street?

Mani Cross Street is classified as Residential Special Type - I under the guideline value register.