Guideline Value for Manikkar Chathiram Salai

Manikkar Chathiram Salai guideline value

The current guideline value for Manikkar Chathiram Salai is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Commercial Class I Type - I.

How the guideline value of Manikkar Chathiram Salai has changed

The guideline value for Manikkar Chathiram Salai has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 192% rise. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, which is a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, showing a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Manikkar Chathiram Salai's 2024 figure above this median.

• Manikandan Lane: Rs 2,200 per sq.ft (2024)
• Manigandan 8th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 5th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manikkar Chathiram Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, these fees total Rs 3,42,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manikkar Chathiram Salai?

The Sub Registrar Office that covers Manikkar Chathiram Salai is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations. This value is regularly updated, reflecting changes in the real estate market and local economic conditions.

Frequently asked questions

What is the current guideline value of Manikkar Chathiram Salai?

The current guideline value of Manikkar Chathiram Salai is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, an overall increase of 217%.

What are the stamp duty and registration fees for property in Manikkar Chathiram Salai?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations in Manikkar Chathiram Salai?

The Royapuram Sub Registrar Office handles property registrations for Manikkar Chathiram Salai, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Manikkar Chathiram Salai?

Manikkar Chathiram Salai is classified as Commercial Class I Type - I, indicating its designation for commercial use.