Guideline Value for Manjula Street

Manjula Street guideline value

The current guideline value of Manjula Street in Nanganallur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - I.

How the guideline value of Manjula Street has changed

The guideline value for Manjula Street has seen several revisions over the years. In 2002, the value was Rs 329 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting an increase of 87%. The following revision in 2012 saw the value drop to Rs 4,000 per sq.ft, a decrease of 471% from the previous figure.

From 2012 to 2017, the value again changed, this time to Rs 2,680 per sq.ft, representing a 33% decline. The next revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,237%.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft as of 2024. The median value for these streets is Rs 3,900 per sq.ft, placing Manjula Street's 2024 figure above this median.

• Mahalakshmi Street: Rs 2,800 per sq.ft (2024)
• Munusamy Street: Rs 5,500 per sq.ft (2024)
• Kuppusamy Street LAYOUT: Rs 4,400 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Manjula 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, making the total cost for these fees Rs 3,96,000. Please 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 further calculations.

Which Sub Registrar Office covers Manjula Street?

The Sub Registrar Office that covers Manjula Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the property transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for duty calculation. This ensures that the appropriate fees are collected based on the established guideline values in the region.

Frequently asked questions

What is the current guideline value of Manjula Street?

The current guideline value of Manjula 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 changed significantly from Rs 329 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,237% over the years.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, with Manjula Street's value being above this median.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Manjula Street located?

The Sub Registrar Office for Manjula Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.