Guideline Value for Manimekalai 2nd Street

Manimekalai 2nd Street guideline value

The current guideline value of Manimekalai 2nd Street is Rs 4,400 per sq.ft. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Manimekalai 2nd Street has changed

The guideline value for Manimekalai 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased to Rs 4,000 per sq.ft in 2023, and it has now risen to Rs 4,400 per sq.ft as of the 2024 revision, effective from 1 July 2024. The register has no figure for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the increase was 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Manimekalai 2nd Street's 2024 figure above that median.

• Manimekalai 1st Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Manimekalai Street: Rs 4,400 per sq.ft (2024)
• Manimekalai Street West: Rs 4,400 per sq.ft (2024)
• Manickavasakar Street: Rs 1,100 per sq.ft (2024)
• Manickam Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Manimekalai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. 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 Manimekalai 2nd Street?

The Sub Registrar Office that covers Manimekalai 2nd 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Manimekalai 2nd Street?

The current guideline value of Manimekalai 2nd Street is Rs 4,400 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Manimekalai 2nd Street?

Manimekalai 2nd Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur SRO?

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

How is stamp duty calculated for properties in Selaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, if the guideline value is Rs 44,00,000, the stamp duty would be 7% of this amount.