Guideline Value for Maniammai 1st Street

Maniammai 1st Street guideline value

The current guideline value of Maniammai 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Maniammai 1st Street has changed

The guideline value for Maniammai 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. However, from 2017 to the 2023 revision, there was a significant increase, with the value rising to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, indicating that the value for Maniammai 1st Street is below the median.

• Maniammai Street: Rs 1,300 per sq.ft (2024)
• Manickavasakar Street: Rs 880 per sq.ft (2024)
• Manimekalai Street: Rs 1,600 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 1,900 per sq.ft (2024)
• Maruthi Nagar: Rs 3,750 per sq.ft (2024)
• Maruthi Nagar 1st Cross Street: Rs 3,750 per sq.ft (2024)

Stamp duty and registration fee for property in Maniammai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Maniammai 1st Street?

The Sub Registrar Office that covers Maniammai 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting a fair value for taxation purposes. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Maniammai 1st Street?

The current guideline value of Maniammai 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Maniammai 1st Street?

Maniammai 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where is the Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Maniammai 1st Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.