Guideline Value for Manimekalai Street

Manimekalai Street guideline value

The current guideline value of Manimekalai Street in Selaiyur village, under the Selaiyur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Manimekalai Street has changed

Over the years, the guideline value of Manimekalai Street has seen significant fluctuations. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 567%. However, by 2017, the value decreased to Rs 2,680 per sq.ft, a reduction of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003.

In summary, the guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 633%. The changes between revisions highlight the volatility in property values over the years.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with 2024 figures ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Manimekalai Street's current value above this median.

• Manimekalai 2nd Street: Rs 4,400 per sq.ft (2024)
• Manimekalai Street West: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Cross Street: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manimekalai Street?

The Sub Registrar Office that covers Manimekalai 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 information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It is the benchmark used to assess the value of properties for registration purposes. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manimekalai Street?

The current guideline value of Manimekalai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2017.

What are the stamp duty and registration fees for property in Manimekalai Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Manimekalai Street?

The Selaiyur Sub Registrar Office covers Manimekalai Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Manimekalai Street?

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