Guideline Value for Thirumangai Mannan Street

Thirumangai Mannan Street guideline value

The current guideline value of Thirumangai Mannan Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Thirumangai Mannan Street has changed

Over the years, the guideline value of Thirumangai Mannan Street has seen several revisions. The earliest recorded revision is from 2007, where the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 633%. However, the value then dropped to Rs 2,211 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 3,300 per sq.ft in 2023 and further to Rs 3,500 per sq.ft in 2024, reflecting a 6% increase from the previous year and a substantial 49% increase from 2017.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 678%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Thirumangai Mannan Street's 2024 figure above this median.

• Thirumazhisai Ist Main Road: Rs 1,100 per sq.ft (2024)
• Thirumazhisai Street: Rs 1,100 per sq.ft (2024)
• Thirumurugan Street: Rs 1,100 per sq.ft (2024)
• Thiruppanar Street: Rs 2,400 per sq.ft (2024)
• Thirupur Kumaran Poonka Street: Rs 950 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumangai Mannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost for these fees to Rs 3,15,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumangai Mannan Street?

The Sub Registrar Office that covers Thirumangai Mannan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The values are regularly updated, and staying informed can help in making better decisions during property transactions.

Frequently asked questions

What is the current guideline value of Thirumangai Mannan Street?

The current guideline value of Thirumangai Mannan Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, marking an overall increase of 678% over the years.

What is the land classification of Thirumangai Mannan Street?

Thirumangai Mannan Street is classified as Residential Special Type - IV.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Thirumangai Mannan Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.