Guideline Value for Manohar Avenue

Manohar Avenue guideline value

The current guideline value of Manohar Avenue is Rs 10,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and the land classification is Mixed Type - II.

How the guideline value of Manohar Avenue has changed

The guideline value for Manohar Avenue has seen several revisions over the years. In 2003, the guideline value was Rs 1,337 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. This marked a significant rise of 50%. The value then surged dramatically to Rs 9,200 per sq.ft in 2012, reflecting a 360% increase. However, it dropped to Rs 6,164 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 9,200 per sq.ft in 2023, and most recently, it increased to Rs 10,100 per sq.ft in 2024, marking a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 655%. It is important to note that the register has no figure for Manohar Avenue for the year 2002.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Manohar Avenue's current guideline value is above this median.

• Manoharan Street: Rs 8,300 per sq.ft (2024)
• Manoharan Lane: Rs 7,100 per sq.ft (2024)
• Marshall Road: Rs 18,100 per sq.ft (2024)
• Marthandam Road: Rs 3,400 per sq.ft (2024)
• Mangali Amman Koil Street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 9th street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manohar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 10,100 per sq.ft, the guideline value amounts to Rs 1,01,00,000. The stamp duty at 7% would be Rs 7,07,000, and the registration fee at 2% would be Rs 2,02,000, bringing the total to Rs 9,09,000. 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 more details.

Which Sub Registrar Office covers Manohar Avenue?

The Sub Registrar Office that covers Manohar Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale is conducted at a value recognized by the government.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on either the guideline value or the actual sale price, whichever is higher. This ensures that all transactions are transparent and adhere to the established legal framework.

Frequently asked questions

What is the current guideline value of Manohar Avenue?

The current guideline value of Manohar Avenue is Rs 10,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,337 per sq.ft in 2003 to Rs 10,100 per sq.ft in 2024, reflecting an overall increase of 655% over this period.

What is the stamp duty rate for property in Manohar Avenue?

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

Where is the Sub Registrar Office for Manohar Avenue located?

The Sub Registrar Office for Manohar Avenue is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Manohar Avenue?

The land classification of Manohar Avenue is Mixed Type - II, which indicates the type of development and usage allowed in the area.