Guideline Value for Mannady Lane

Mannady Lane guideline value

The current guideline value of Mannady Lane in Ayappakkam village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Mannady Lane has changed

The guideline value for Mannady Lane has seen several revisions over the years. In the 2003 revision, the value was set at Rs 80 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a 400% rise. The value then doubled to Rs 800 per sq.ft in 2012 but dropped to Rs 536 per sq.ft in the 2017 revision, a decrease of 33%. In 2023, the value was revised to Rs 800 per sq.ft, and the latest revision in 2024 set it at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1000%. It is important to note that the register has no figure for Mannady Lane for the year 2002.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft as of 2024. The median value for the area is Rs 1,300 per sq.ft, placing Mannady Lane's 2024 figure below this median.

• Mannady Street: Rs 880 per sq.ft (2024)
• Maruthiram Nagar: Rs 1,100 per sq.ft (2024)
• Maruthiram Nagar Extension: Rs 1,100 per sq.ft (2024)
• MaruthiRam Nagar Main Road (Maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Maruthi street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Mahalingam Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mannady Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total charges Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannady Lane?

The Sub Registrar Office covering Mannady Lane is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the financial implications of their transactions.

When a property is bought or sold, the guideline value helps in establishing the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, based on the established rates for different areas.

Frequently asked questions

What is the current guideline value of Mannady Lane?

The current guideline value of Mannady Lane is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 1000% over these years.

What is the land classification of Mannady Lane?

Mannady Lane is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Mannady Lane?

The Ambattur Sub Registrar Office, which covers Mannady Lane, is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600.