Guideline Value for Mani Street

Mani Street guideline value

The current guideline value of Mani Street in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Mani Street has changed

The guideline value of Mani Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Over the entire period from 2012 to 2024, the overall change is a 10% increase. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Mani Street's 2024 guideline value above this median.

• Mani street ext: Rs 1,650 per sq.ft (2024)
• Manimegalai Street: Rs 1,650 per sq.ft (2024)
• Manikandan St: Rs 1,100 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,650 per sq.ft (2024)
• Malli Street: Rs 1,320 per sq.ft (2024)
• Malli Cross Street: Rs 1,100 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mani Street?

The Sub Registrar Office that covers Mani Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects the official rates set by the government.

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

Frequently asked questions

What is the current guideline value of Mani Street?

The current guideline value of Mani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the guideline values for other streets in Peerklankaranai?

Other streets in Peerklankaranai have varying guideline values, with rates ranging from Rs 1,100 to Rs 1,650 per sq.ft in 2024.

What fees are associated with registering property in Mani Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mani Street?

The Tambaram Joint 1 Sub Registrar Office covers Mani Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.