Guideline Value for Manjakkuppam

Manjakkuppam guideline value

The current guideline value of Manjakkuppam is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is part of Mugappair village and falls under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Manjakkuppam has changed

The guideline value of Manjakkuppam has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 322 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 800 per sq.ft in 2007, which is an increase of 126%. In 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a decrease of 338% from the previous revision. The value rose again to Rs 2,345 per sq.ft in 2017, showing a 49% increase. The most recent revision in 2023 set the guideline value at Rs 3,500 per sq.ft, and it has now increased to Rs 3,800 per sq.ft in 2024, a rise of 9%.

There are no figures available for the revisions in years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1080%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median guideline value for the village is Rs 7,100 per sq.ft, placing Manjakkuppam's 2024 figure below this median.

• Maraimalai Adigal Salai: Rs 5,500 per sq.ft (2024)
• Mariamman Koil Street 1,2 and 3rd Street: Rs 3,300 per sq.ft (2024)
• Maria Street: Rs 3,300 per sq.ft (2024)
• Masuthi Street: Rs 5,500 per sq.ft (2024)
• Melppatti Ponnambalam Mudhali Street: Rs 3,800 per sq.ft (2024)
• Magizhchi Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manjakkuppam

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

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manjakkuppam?

The Sub Registrar Office that covers Manjakkuppam is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mugappair. It serves as a benchmark for determining the minimum value of a property, ensuring that properties are registered at a fair value according to the local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manjakkuppam?

The current guideline value of Manjakkuppam 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 increased from Rs 322 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 1080% over this period.

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

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.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during property transactions.