Guideline Value for Manickam Pillai Street

Manickam Pillai Street guideline value

The current guideline value of Manickam Pillai Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Manickam Pillai Street has changed

The guideline value for Manickam Pillai Street has seen several revisions over the years. In 2002, the value was Rs 247 per sq.ft, which increased to Rs 272 per sq.ft in 2003. The value continued to rise, reaching Rs 500 per sq.ft in 2007, and then to Rs 1,200 per sq.ft in 2012. However, there was a decline to Rs 804 per sq.ft in 2017. The most recent revisions indicate an increase to Rs 1,200 per sq.ft in 2023, followed by the current value of Rs 1,300 per sq.ft in 2024.

Between the revisions, the changes were significant. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. The rise from 2007 to 2012 was substantial at 140%, while the increase from 2003 to 2007 was 84%. The change from 2002 to 2003 was a modest 10%. Overall, from 2002 to 2024, the guideline value has increased by 426%.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which matches the current guideline value for Manickam Pillai Street.

• Malaiathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Menambedu Main Road: Rs 2,300 per sq.ft (2024)
• Logappa Naidu Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Kuyavar Street: Rs 1,300 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Pillai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manickam Pillai Street?

The Sub Registrar Office covering Manickam Pillai Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannurpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the current market conditions as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Manickam Pillai Street?

The current guideline value of Manickam Pillai 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 significantly, starting from Rs 247 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 426%.

What is the registration office for Manickam Pillai Street?

The registration office for Manickam Pillai Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

What other streets in Mannurpet have guideline values?

Other streets in Mannurpet under the Konnur SRO include Malaiathamman Koil Street, Menambedu Main Road, Logappa Naidu Street, Lakshmi Amman Koil Street, and Kuyavar Street, with values ranging from Rs 1,300 to Rs 2,300 per sq.ft.