Guideline Value for Manimekalai Street

Manimekalai Street guideline value

The current guideline value of Manimekalai Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Manimekalai Street has changed

The guideline value for Manimekalai Street has seen several revisions over the years. In 2002, the value was Rs 152 per sq.ft, which increased to Rs 164 per sq.ft in 2003. Following that, the value rose significantly to Rs 500 per sq.ft in 2007, reflecting a change of +205%. The value then increased to Rs 1,500 per sq.ft in 2012, marking a +200% change from the previous revision. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of -33%. The value then increased to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,600 per sq.ft in 2024, showing an increase of +7% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +953%. There are no figures available for the years not listed in the register for this street.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Manimekalai Street is below this median.

• Mani Street(vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Mani Cross Street: Rs 2,400 per sq.ft (2024)
• Mariamman Koil Street (11th Ward): Rs 1,800 per sq.ft (2024)
• Maruthi Nagar: Rs 1,300 per sq.ft (2024)
• Maruthi Street: Rs 1,400 per sq.ft (2024)
• Masilamaneeswarar Street (Venkateswara Nagar): Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty is charged at 7%, amounting to Rs 1,12,000, and the registration fee is 2%, which comes to Rs 32,000. Together, the total cost for stamp duty and registration fee would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It is used to determine the stamp duty and registration fees applicable for the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees.

During registration, the guideline value is compared with the sale price of the property, and the higher of the two is used to compute the stamp duty. This ensures that the fees are reflective of the property's value as determined by the government.

Frequently asked questions

What is the current guideline value of Manimekalai Street?

The current guideline value of Manimekalai Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 152 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +953% over the years.

What is the stamp duty rate for properties in Manimekalai Street?

The stamp duty rate for properties in Manimekalai Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Manimekalai Street located?

The Sub Registrar Office for Manimekalai Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the guideline values of other streets in Oragadam?

Other streets in Oragadam have varying guideline values, with rates ranging from Rs 1,100 to Rs 3,500 per sq.ft. For example, Mani Street and Mani Cross Street both have a guideline value of Rs 2,400 per sq.ft in 2024.