Guideline Value for Menambedu Main Road

Menambedu Main Road guideline value

The current guideline value of Menambedu Main Road is Rs 2,300 per sq.ft, effective from 1 July 2024. This road is located in Mannurpet village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Menambedu Main Road has changed

The guideline value for Menambedu Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 292 per sq.ft. This increased to Rs 322 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 800 per sq.ft in 2007, reflecting a substantial increase of 148%. In 2012, the guideline value was Rs 2,100 per sq.ft, which was a decrease of 33% from the previous revision. The value then increased to Rs 1,407 per sq.ft in 2017, showing a 49% increase from 2012. As of the 2023 revision, the guideline value was Rs 2,100 per sq.ft, and it has now risen to Rs 2,300 per sq.ft in 2024, representing a 10% increase.

There are no figures available in the register for the years prior to 2002 or after 2024 for this street.

Guideline values in Mannurpet

In Mannurpet, there are 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median value of Rs 1,300 per sq.ft. Menambedu Main Road's 2024 guideline value is above this median.

• Manickam Pillai Street: Rs 1,300 per sq.ft (2024)
• Malaiathamman Koil Street: Rs 1,700 per sq.ft (2024)
• M.T.H. Road: Rs 5,500 per sq.ft (2024)
• Mugapper Road: Rs 3,300 per sq.ft (2024)
• Logappa Naidu Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Menambedu Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty at 7% would be Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, bringing the total to Rs 2,07,000. Please 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 Menambedu Main Road?

The Sub Registrar Office that covers Menambedu Main Road is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is an essential factor during property registration in Mannurpet. It serves as a benchmark for determining the minimum sale price of a property, ensuring that transactions are recorded at a fair value. This value is used to calculate the stamp duty and registration fees applicable to the property.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is crucial for buyers to be aware of the guideline value to ensure they are not overpaying for a property compared to the registered rates.

Frequently asked questions

What is the current guideline value of Menambedu Main Road?

The current guideline value of Menambedu Main Road is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 292 per sq.ft in 2002 to Rs 2,300 per sq.ft in 2024, showing an overall increase of 688% over the years.

What is the registration fee for property in Menambedu Main Road?

The registration fee for property transactions is calculated at 2% of the guideline value. For a plot valued at Rs 23,00,000, the registration fee would be Rs 46,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What should I consider when buying property in Mannurpet?

When buying property in Mannurpet, it is essential to consider the guideline value, as it determines the minimum sale price and the applicable stamp duty and registration fees. Understanding these values can help ensure a smooth transaction process.