Guideline Value for Manonmani Street

Manonmani Street guideline value

The current guideline value of Manonmani Street in Grandlyon village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Manonmani Street has changed

The guideline value for Manonmani Street has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The value then rose significantly to Rs 600 per sq.ft in 2023, followed by another increase to Rs 660 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value of Manonmani Street.

• M.C. Devaraj Nagar: Rs 880 per sq.ft (2024)
• Maharaja Nagar: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 440 per sq.ft (2024)
• Madhavaram Redhills Road: Rs 880 per sq.ft (2024)
• M.G.R. Street: Rs 660 per sq.ft (2024)
• Muruganandam Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Manonmani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manonmani Street?

The Sub Registrar Office covering Manonmani Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Grandlyon. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point for the transaction. It helps in assessing the official value of the property, ensuring that all parties are aware of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value of Manonmani Street?

The current guideline value of Manonmani Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, showing an overall increase of 120% over the years.

What is the land classification for Manonmani Street?

Manonmani Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Manonmani Street?

The Sub Registrar Office for Manonmani Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Manonmani Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 46,200.