Guideline Value for C.K. Manikkanar Street Extn.

C.K. Manikkanar Street Extn. guideline value

The current guideline value of C.K. Manikkanar Street Extn. is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of C.K. Manikkanar Street Extn. has changed

The guideline value for C.K. Manikkanar Street Extn. has undergone several revisions over the years. The earliest recorded value was Rs 400 per sq.ft in 2007, which saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, this value then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. Following this, the guideline value rose sharply to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

In summary, from 2017 to 2023, the value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a substantial increase of 230%. It is important to note that the register has no figure for C.K. Manikkanar Street Extn. for the years 2002 and 2003.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. C.K. Manikkanar Street Extn.'s 2024 guideline value is below this median.

• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)
• Church Street: Rs 1,870 per sq.ft (2024)
• Chozhan Street: Rs 1,320 per sq.ft (2024)
• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chothupakkam Road: Rs 3,300 per sq.ft (2024)
• Cheran Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in C.K. Manikkanar Street Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers C.K. Manikkanar Street Extn.?

The Sub Registrar Office that covers C.K. Manikkanar Street Extn. is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of C.K. Manikkanar Street Extn.?

The current guideline value of C.K. Manikkanar Street Extn. 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 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office handles registrations for this street?

The Redhills Sub Registrar Office handles registrations for C.K. Manikkanar Street Extn., located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for C.K. Manikkanar Street Extn.?

The land classification for C.K. Manikkanar Street Extn. is Residential Class III Type - I.