Guideline Value for Mannady street

Mannady street guideline value

The current guideline value of Mannady street in Muthialpet village is Rs 14,800 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Mannady street has changed

The guideline value for Mannady street has undergone several revisions over the years. In 2002, the value was Rs 3,385 per sq.ft, which increased to Rs 3,847 per sq.ft in 2003, marking a 14% rise. The value then saw a 17% increase to Rs 4,500 per sq.ft in 2007. Following this, there was a significant jump of 200%, bringing the value to Rs 13,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 9,045 per sq.ft in 2017. The guideline value then rose by 49% to Rs 13,500 per sq.ft in 2023, and most recently, it increased by 10% to reach Rs 14,800 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 337%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, making Mannady street's 2024 figure above that median.

• Maracoir street: Rs 5,500 per sq.ft (2024)
• Maleeswarar Pillar street *: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street south: Rs 4,900 per sq.ft (2024)
• Maleeswarar Koil street north: Rs 4,900 per sq.ft (2024)
• Malayappan street: Rs 14,800 per sq.ft (2024)
• Meerali lane: Rs 4,900 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 14,800 per sq.ft, the guideline value totals Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, bringing the total of these fees to Rs 13,32,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Mannady street?

The Sub Registrar Office that covers Mannady street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately in the official registry. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mannady street?

The current guideline value of Mannady street is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 3,385 per sq.ft in 2002 to Rs 14,800 per sq.ft in 2024, which is an overall increase of 337% over the years.

What is the land classification for Mannady street?

Mannady street is classified as Commercial Class I Type - III under the Chennai North Joint I SRO.

What are the stamp duty rates applicable for property in Mannady street?

The stamp duty for property in Mannady street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Mannady street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.