Guideline Value for Manjakollai Street

Manjakollai Street guideline value

The current guideline value of Manjakollai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Manjakollai Street has changed

The guideline value for Manjakollai Street has seen several revisions over the years. In 2007, the value was Rs 1,150 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017. The 2023 revision set the value at Rs 6,000 per sq.ft, which was then raised to Rs 6,600 per sq.ft in 2024.

From 2007 to 2024, the overall increase in the guideline value is 474%. Notably, the value rose by 422% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Aminjikarai

Aminjikarai village has 99 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making Manjakollai Street's 2024 figure above that median.

• Lime Kiln Street: Rs 6,600 per sq.ft (2024)
• Lakshmi Talkies Road: Rs 14,300 per sq.ft (2024)
• Mosque Lane: Rs 6,600 per sq.ft (2024)
• K.V.N.Puram: Rs 3,300 per sq.ft (2024)
• Nadhamuni Naidu Street: Rs 5,500 per sq.ft (2024)
• Kilpauk Garden Road: Rs 15,000 per sq.ft (2024)

Stamp duty and registration fee for property in Manjakollai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manjakollai Street?

The Sub Registrar Office covering Manjakollai Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees when buying or selling property. The stamp duty is based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value helps standardize the valuation process, making it easier for buyers and sellers to understand the financial implications of the transaction. This transparency is essential for maintaining a fair and orderly real estate market.

Frequently asked questions

What is the current guideline value of Manjakollai Street?

The current guideline value of Manjakollai Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,150 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting a significant overall increase of 474% over the years.

What are the stamp duty and registration fees for properties on Manjakollai Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Manjakollai Street?

The AnnaNagar Sub Registrar Office covers Manjakollai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Manjakollai Street?

Manjakollai Street is classified as Residential Class I Type - III, indicating its suitability for residential development.