Guideline Value for Mannady Street

Mannady Street guideline value

The current guideline value of Mannady Street in Ayappakkam village under the Ambattur SRO is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Mannady Street has changed

The guideline value for Mannady Street has seen several revisions over the years. In 2003, it was Rs 80 per sq.ft, which 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 saw a decrease of 33% to Rs 536 per sq.ft in 2017. The 2023 revision set the value at Rs 800 per sq.ft, and the most recent revision in 2024 has increased it to Rs 880 per sq.ft, a 10% rise.

There is no figure available for Mannady Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1000%.

Guideline values in Ayappakkam

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

• Mannady Lane: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Mannady Street?

The Sub Registrar Office that covers Mannady Street 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 during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mannady Street?

The current guideline value of Mannady Street 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 the years.

What is the land classification of Mannady Street?

Mannady Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For 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, totaling Rs 79,200.

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

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