Guideline Value for Maniammai Street

Maniammai Street guideline value

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

How the guideline value of Maniammai Street has changed

The guideline value for Maniammai Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained the same in the following revision in 2017, where it decreased to Rs 804 per sq.ft. In 2023, the value increased to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Between the revisions, the changes are notable. From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, indicating that Maniammai Street's 2024 figure is below this median.

• Maniammai 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is charged at 7%, resulting in Rs 91,000, while the registration fee at 2% amounts to Rs 26,000. Therefore, the total cost for stamp duty and registration fees together is 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maniammai Street?

The Sub Registrar Office that covers Maniammai 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 more details.

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

When buying or selling property in Rajakilpakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and reflects the minimum price at which property transactions can be registered.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration process requires payment of stamp duty and registration fees based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Maniammai Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Maniammai Street?

Maniammai Street is classified as Residential Class II Type - II, indicating its designation for residential use.

Where is the Selaiyur 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000, leading to a total of Rs 1,17,000 for fees.