Guideline Value for Mannady Street (Ettapalayam)

Mannady Street (Ettapalayam) guideline value

The current guideline value of Mannady Street (Ettapalayam) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mannady Street (Ettapalayam) has changed

In the 2017 revision, the guideline value for Mannady Street was Rs 804 per sq.ft. The most recent revision in 2024 shows a significant increase to Rs 1,300 per sq.ft, representing a change of +62% from the previous figure. It is important to note that there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

The substantial rise from Rs 804 to Rs 1,300 per sq.ft indicates a notable adjustment in the guideline value over the years. However, the absence of figures for the intervening years means we cannot assess the changes that occurred during those periods.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, placing Mannady Street's 2024 figure below this median.

• Mannadi St ( Ward No.5 ): Rs 1,300 per sq.ft (2024)
• Manjambakkam to Assisi Nagar Road ( Ward No.6 ): Rs 1,300 per sq.ft (2024)
• Manjambakkam Road: Rs 1,300 per sq.ft (2024)
• Ma.Po. Veda Street (Ward 20): Rs 1,600 per sq.ft (2024)
• Ma.Po. Vedha St (Ward-30): Rs 1,600 per sq.ft (2024)
• Ma-Po-Vedha St ( Ward No.30 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mannady Street (Ettapalayam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is calculated at 7%, which equals Rs 91,000, and the registration fee is 2%, amounting to Rs 26,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannady Street (Ettapalayam)?

The Sub Registrar Office that covers Mannady Street (Ettapalayam) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline values for different streets and areas.

Frequently asked questions

What is the current guideline value of Mannady Street (Ettapalayam)?

The current guideline value of Mannady Street (Ettapalayam) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an increase of +62%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft as of 2024. Mannady Street's guideline value is below this median.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.