Guideline Value for Mannadi Street

Mannadi Street guideline value

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

How the guideline value of Mannadi Street has changed

The guideline value for Mannadi Street has seen 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. The rate continued to rise significantly, reaching Rs 800 per sq.ft in 2007, followed by a substantial jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before the latest revision to Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 9%. The most significant change occurred between 2007 and 2012, where the value saw a rise of 338%. Overall, from 2002 to 2024, the guideline value has increased by 919%. There are no figures available for the revisions in years not listed.

Guideline values in Konnur

In Konnur, there are 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 is Rs 3,800 per sq.ft, which is the same as Mannadi Street's current guideline value.

• Mannadi Park Lane: Rs 3,800 per sq.ft (2024)
• Mannadi Othavadai 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total 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, bringing the total fees to Rs 3,42,000. It is important to note that the 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 Mannadi Street?

The Sub Registrar Office that covers Mannadi 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konnur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers should be aware that the guideline value is considered the minimum value for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing any undervaluation. Therefore, it is essential for both parties to understand the current guideline value to ensure compliance with local regulations during the sale.

Frequently asked questions

What is the current guideline value of Mannadi Street?

The current guideline value of Mannadi 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 increased 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 are the stamp duty and registration fees for properties in Mannadi Street?

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 property registrations for Mannadi Street?

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

What is the land classification for Mannadi Street?

Mannadi Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.