Guideline Value for Mannappan Street

Mannappan Street guideline value

The current guideline value of Mannappan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mannappan Street has changed

The guideline value for Mannappan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 for Mannappan Street. Overall, from 2007 to 2024, the guideline value has increased by 214%, showcasing significant changes over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Mannappan Street's 2024 figure above this median.

• Manikkar Chathiram Salai: Rs 3,800 per sq.ft (2024)
• Mariadoss Street: Rs 2,200 per sq.ft (2024)
• Manikandan Lane: Rs 2,200 per sq.ft (2024)
• Manigandan 8th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 7th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as a reference point for determining the stamp duty and registration fees payable during the buying or selling process. This ensures that the government receives appropriate revenue from property transactions.

When registering a property, the guideline value will be used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Buyers and sellers should be aware of the guideline value to prepare for these expenses effectively.

Frequently asked questions

What is the current guideline value of Mannappan Street?

The current guideline value of Mannappan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 214%.

What is the land classification for Mannappan Street?

Mannappan Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties on Mannappan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.