Guideline Value for Mannan Street

Mannan Street guideline value

The current guideline value of Mannan Street is Rs 1,102 per sq.ft. This street is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mannan Street has changed

The guideline value for Mannan Street has seen several revisions over the years. In 2002, the value was Rs 532 per sq.ft, which then decreased to Rs 54 per sq.ft in 2003. Following this, the value increased significantly to Rs 200 per sq.ft in 2007, and further rose to Rs 700 per sq.ft in 2012. However, it then saw a decrease to Rs 469 per sq.ft in 2017. The value continued to rise, reaching Rs 1,000 per sq.ft in 2023, and finally settling at Rs 1,102 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 107%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Puzhal

In Puzhal village, there are 270 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which matches the current value of Mannan Street.

• Mariyammal Nagar: Rs 1,650 per sq.ft (2024)
• Mariyamman Nagar: Rs 1,650 per sq.ft (2024)
• Marvel Lake View County: Rs 1,100 per sq.ft (2024)
• Masilamani Nagar: Rs 1,100 per sq.ft (2024)
• Matha Nagar: Rs 1,102 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040. Together, the total cost for these fees would be Rs 99,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannan Street?

The Sub Registrar Office that covers Mannan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Puzhal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the sale price is in line with the prevailing market conditions. It helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Mannan Street?

The current guideline value of Mannan Street is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mannan Street has increased from Rs 532 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, showing an overall increase of 107% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 11,02,000. The stamp duty would be Rs 77,140, and the registration fee would be Rs 22,040, totaling Rs 99,180.

Which Sub Registrar Office covers Mannan Street?

The Redhills Sub Registrar Office covers Mannan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Mannan Street?

Mannan Street is classified as Residential Class III Type - I, indicating its suitability for residential development.