Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street in Manancheri village under the Kunrathur SRO is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Road Street has changed

The guideline value for Road Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to the current rate of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The fluctuations in the values reflect the changes in the local property landscape over the years.

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, with a median value of Rs 990 per sq.ft. Road Street's 2024 guideline value of Rs 1,320 per sq.ft is above this median.

• Royal Garden: Rs 660 per sq.ft (2024)
• Saraswathi Basu Nagar: Rs 990 per sq.ft (2024)
• Saravana Nagar: Rs 990 per sq.ft (2024)
• RajaGanapathi Nagar: Rs 990 per sq.ft (2024)
• Pooja Avenue: Rs 1,320 per sq.ft (2024)
• Ponni Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. 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 Road Street?

The Sub Registrar Office that covers Road Street 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

The guideline value is a crucial factor in the registration process when buying or selling property in Manancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Road Street?

Road Street is classified as Residential Special Type - I according to the local property regulations.

What are the stamp duty and registration fees for properties in Road Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total stamp duty and registration fees would be Rs 1,18,800.

Which office handles property registrations for Road Street?

The Kunrathur Sub Registrar Office handles property registrations for Road Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.