Guideline Value for Mannadi Park Lane

Mannadi Park Lane guideline value

The current guideline value of Mannadi Park Lane 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 Park Lane has changed

The guideline value of Mannadi Park Lane has undergone several revisions over the years. In 2002, the value was Rs 373 per sq.ft, which increased to Rs 405 per sq.ft in 2003. A significant jump occurred in 2007 when the value rose to Rs 800 per sq.ft, followed by a dramatic increase to Rs 3,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,800 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 919%. The register does not provide figures for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO that carry a 2024 guideline value 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 Park Lane.

• Mannadi Othavadai Street: 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 Park Lane

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, resulting in a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannadi Park Lane?

The Sub Registrar Office that covers Mannadi Park Lane 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Konnur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mannadi Park Lane?

The current guideline value of Mannadi Park Lane 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 this period.

What are the stamp duty and registration fees for property in Mannadi Park Lane?

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.

Which office handles registrations for Mannadi Park Lane?

The Konnur Sub Registrar Office handles registrations for Mannadi Park Lane, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the stamp duty and registration fees payable during a transaction. It is essential for buyers and sellers to be aware of this value to ensure compliance with legal requirements.