Guideline Value for ManiKanda Mudali Street

ManiKanda Mudali Street guideline value

The current guideline value of ManiKanda Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of ManiKanda Mudali Street has changed

The guideline value for ManiKanda Mudali Street has seen several revisions over the years. In 2003, the value was Rs 936 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The following revision in 2012 brought the value to Rs 4,000 per sq.ft, but it dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 370%. The register does not have a figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the 2024 guideline value for ManiKanda Mudali Street.

• Mangammal Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Mangammal Street: Rs 4,400 per sq.ft (2024)
• Mannarsamy Street (Pakoda Street): Rs 4,400 per sq.ft (2024)
• Mannar Street: Rs 4,400 per sq.ft (2024)
• Margaret Joshwa Lane: Rs 4,400 per sq.ft (2024)
• Managgappan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in ManiKanda Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ManiKanda Mudali Street?

The Sub Registrar Office that covers ManiKanda Mudali Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Muthiyalpet. It serves as the basis for calculating the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the government. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of ManiKanda Mudali Street?

The current guideline value of ManiKanda Mudali Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 936 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting a 370% increase over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for ManiKanda Mudali Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office do I need to visit for property registration in ManiKanda Mudali Street?

You need to visit the Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01 for property registration related to ManiKanda Mudali Street.