Guideline Value for Mani Street

Mani Street guideline value

The current guideline value of Mani Street in Zaminpallavaram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Mani Street has changed

The guideline value for Mani Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 266 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, reflecting a change of +126%. The value then surged to Rs 3,500 per sq.ft in 2012, marking an increase of +483%. However, between 2012 and 2017, the value decreased by -33% to Rs 2,345 per sq.ft. A substantial rise occurred from 2017 to 2023, with the value increasing by +60% to Rs 3,750 per sq.ft. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, a change of +3% from the previous year.

It is important to note that the register has no figure for Mani Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by +1347%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Mani Street's value above this median.

• Manimegalai street Exten.: Rs 3,300 per sq.ft (2024)
• Manimegalai street: Rs 3,300 per sq.ft (2024)
• Manickavel Nagar (Manickam Street): Rs 2,750 per sq.ft (2024)
• Manickam Nagar: Rs 2,160 per sq.ft (2024)
• Malliga Street: Rs 2,160 per sq.ft (2024)
• Malliga Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Mani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 Street?

The Sub Registrar Office that covers Mani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

During property transactions, the guideline value helps determine the minimum price at which a property can be sold. This ensures that all parties involved in the transaction are adhering to the legal requirements set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Mani Street?

The current guideline value of Mani Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mani Street has changed significantly, from Rs 266 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1347%.

What is the land classification of Mani Street?

Mani Street is classified as Mixed Type - I land under the guidelines set by the Pallavaram SRO.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated on property in Mani Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.