Guideline Value for Zion Street

Zion Street guideline value

The current guideline value of Zion Street in Mannurpet village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class III Type - I.

How the guideline value of Zion Street has changed

The guideline value for Zion Street has undergone several revisions over the years. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 190 per sq.ft in 2003. The subsequent revisions saw significant changes, with the value rising to Rs 400 per sq.ft in 2007, then to Rs 1,000 per sq.ft in 2012. However, it dropped to Rs 670 per sq.ft in 2017 before increasing to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the value surged by 150% from 2007 to 2012. Between 2003 and 2007, the increase was 111%, and from 2002 to 2003, it rose by 10%. Overall, from 2002 to 2024, the guideline value has increased by 540%.

Guideline values in Mannurpet

Mannurpet village has a total of 38 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Zion Street's 2024 figure below that median.

• Venkatasa Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Venkatasa Perumal Koil First & Second Cross Street: Rs 1,300 per sq.ft (2024)
• Venkatasa Perumal Koil 3 & 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Vengatasubburaya Street: Rs 1,100 per sq.ft (2024)
• Thiruveediamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Zion Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Zion Street?

The Sub Registrar Office that covers Zion Street 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 more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannurpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is considered to determine the applicable fees. Buyers should be aware that the stamp duty and registration fees will be based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Zion Street?

The current guideline value of Zion Street is Rs 1,100 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 172 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 540% over this period.

What are the stamp duty and registration fees for property in Zion Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office is responsible for Zion Street?

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

What other streets have guideline values in Mannurpet?

Other streets in Mannurpet include Venkatasa Perumal Koil Street, Venkatasa Perumal Koil First & Second Cross Street, Venkatasa Perumal Koil 3 & 4th Cross Street, Vengatasubburaya Street, Thiruveediamman Koil Street, and Thiruvalluvar Street, each with varying guideline values.