Guideline Value for Manonmaniam Street

Manonmaniam Street guideline value

The current guideline value of Manonmaniam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Manonmaniam Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further rose to Rs 2,750 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year.

From the 2017 revision to 2023, the change was a substantial increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Manonmaniam Street's 2024 value above this median.

• Maraimalai Adigalar Street: Rs 4,400 per sq.ft (2024)
• Manikkavasagar Street: Rs 1,650 per sq.ft (2024)
• Mark Street: Rs 2,750 per sq.ft (2024)
• Maruthi Street: Rs 1,650 per sq.ft (2024)
• Maruthupandiyar Street: Rs 2,750 per sq.ft (2024)
• Maruthuvar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Manonmaniam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that 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 Manonmaniam Street?

The Sub Registrar Office that covers Manonmaniam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. 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 assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Manonmaniam Street?

The current guideline value of Manonmaniam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023 and reaching Rs 2,750 per sq.ft in 2024.

What is the land classification of Manonmaniam Street?

Manonmaniam Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for Manonmaniam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.