Guideline Value for Mannappan Street

Mannappan Street guideline value

The current guideline value of Mannappan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Mannappan Street has changed

The guideline value of Mannappan Street has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 100%. However, by 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is an increase of 10% from the previous year. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes between revisions highlight the fluctuations in the property market, with the most significant increase occurring between 2012 and 2017, and a notable rise from 2023 to 2024.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,100 per sq.ft, which means that Mannappan Street's 2024 figure is below the median.

• M.G.R.Street: Rs 3,300 per sq.ft (2024)
• Lock Street: Rs 9,400 per sq.ft (2024)
• Murugappa Road: Rs 11,000 per sq.ft (2024)
• Muthiyalu Naidu: Rs 6,100 per sq.ft (2024)
• Muthiyalu Raja Street: Rs 5,500 per sq.ft (2024)
• Naidu 1st Cross Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mannappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mannappan Street?

The Sub Registrar Office that covers Mannappan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor during the registration of property transactions in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing the legal framework for the transaction. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Mannappan Street?

The current guideline value of Mannappan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, increasing from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with fluctuations in between, including a decrease in 2017.

What is the land classification of Mannappan Street?

Mannappan Street is classified as Residential Class IV Type - III, indicating its designation for residential use within the area.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Mannappan Street located?

The Adayar Sub Registrar Office, which covers Mannappan Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.