Guideline Value for Mayana salai

Mayana salai guideline value

The current guideline value of Mayana salai in Manancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Mayana salai has changed

Over the years, the guideline value of Mayana salai has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 175 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 414%. However, between 2012 and 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The value then rose again to Rs 900 per sq.ft in 2023, and most recently to Rs 990 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 figure to the current 2024 guideline value, there has been an impressive increase of 466%. It is important to note that there are no recorded figures for Mayana salai in the years 2002 and 2003.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the current guideline value of Mayana salai.

• Manancherri Main Road: Rs 1,320 per sq.ft (2024)
• Manancherri Colony: Rs 990 per sq.ft (2024)
• M.M.Avenue: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• Kundrathur Garden Phase III: Rs 990 per sq.ft (2024)
• Narayana Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Mayana salai

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mayana salai?

The Sub Registrar Office that covers Mayana salai is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

When buying or selling property in Manancheri, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value serves as a benchmark for calculating these fees, ensuring that transactions are recorded accurately and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Proper understanding of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Mayana salai?

The current guideline value of Mayana salai is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 175 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 466%.

What is the registration office for Mayana salai?

The registration office for Mayana salai is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Mayana salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.

What are the other streets in Manancheri with guideline values?

Other streets in Manancheri include Manancherri Main Road, Manancherri Colony, M.M.Avenue, Lakshmi Nagar, Kundrathur Garden Phase III, and Narayana Nagar, with various guideline values ranging from Rs 990 to Rs 1,320 per sq.ft.