Guideline Value for Mannar Street

Mannar Street guideline value

The current guideline value of Mannar Street is Rs 1,500 per sq.ft as per the 2023 revision. This street is located in Vandalur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mannar Street has changed

The guideline value for Mannar Street has undergone several revisions over the years. In 2007, the guideline value was recorded at Rs 550 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 1,500 per sq.ft, marking a 173% increase. However, the value then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The most recent revision in 2023 saw the guideline value return to Rs 1,500 per sq.ft, resulting in a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Currently, there are no specific village figures provided for Vandalur. Mannar Street is the only street listed under the Gooduvancheri SRO in Vandalur.

Stamp duty and registration fee for property in Mannar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. 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 Mannar Street?

The Sub Registrar Office that covers Mannar Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone.

For more details, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Vandalur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction reflects a fair value according to the local market conditions.

When a property is bought or sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mannar Street?

The current guideline value of Mannar Street is Rs 1,500 per sq.ft as per the 2023 revision.

How often does the guideline value change?

The guideline value is revised periodically, with the most recent revisions for Mannar Street occurring in 2007, 2012, 2017, and 2023.

What was the guideline value in 2017?

The guideline value of Mannar Street in 2017 was Rs 1,005 per sq.ft, which was a decrease from the previous revision in 2012.

What is the stamp duty rate for property in Mannar Street?

The stamp duty rate for property transactions in Mannar Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone.