Guideline Value for Mannadi Othavadai Street

Mannadi Othavadai Street guideline value

The current guideline value of Mannadi Othavadai Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mannadi Othavadai Street has changed

The guideline value for Mannadi Othavadai Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 373 per sq.ft. This increased to Rs 405 per sq.ft in 2003, representing a 9% change. The value then rose significantly to Rs 800 per sq.ft in 2007, marking a 98% increase. By 2012, the guideline value had jumped to Rs 3,500 per sq.ft, a substantial increase of 338% from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%.

In the following years, the value rose again, reaching Rs 3,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, a 9% increase from the previous year. There are no figures available for the revisions of the years not listed in the register for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which is equal to the current guideline value of Mannadi Othavadai Street.

• Mannadi Park Lane: Rs 3,800 per sq.ft (2024)
• Mannadi Street: Rs 3,800 per sq.ft (2024)
• Masuthi Street Ist and IInd Street, III Street: Rs 2,750 per sq.ft (2024)
• Madras Pattai: Rs 5,500 per sq.ft (2024)
• Mounasami Madam Street: Rs 3,800 per sq.ft (2024)
• Murugan Nagar 1 to 4 Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mannadi Othavadai Street

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, while the registration fee at 2% would be Rs 76,000. Together, these fees would total 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 Mannadi Othavadai Street?

The Sub Registrar Office that covers Mannadi Othavadai Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Konnur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is registered, the guideline value is referred to for calculating the necessary fees. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mannadi Othavadai Street?

The current guideline value of Mannadi Othavadai Street 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 changed from Rs 373 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 919% over the years.

What is the land classification for Mannadi Othavadai Street?

Mannadi Othavadai Street is classified as Residential Class II Type - I.

Which Sub Registrar Office covers this street?

The Konnur Sub Registrar Office covers Mannadi Othavadai Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty for properties in Konnur is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.