Guideline Value for Cresent Nagar

Cresent Nagar guideline value

The current guideline value of Cresent Nagar, located in Mannoor village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Cresent Nagar has changed

The guideline value of Cresent Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 167 per sq.ft, reflecting a decrease of 33%. However, by 2023, the guideline value increased significantly to Rs 250 per sq.ft, marking a 50% rise from the 2017 figure. The 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figure for Cresent Nagar in the years 2002, 2003, and 2007. Therefore, the revisions available for this street are from 2012, 2017, 2023, and the upcoming 2024 revision.

Guideline values in Mannoor

In Mannoor village, there are 56 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 1,500 per sq.ft. The median value among these streets is Rs 250 per sq.ft, which is equal to the current guideline value of Cresent Nagar.

• Dharani Grand: Rs 500 per sq.ft (2024)
• Dinesh Nagar: Rs 300 per sq.ft (2024)
• Beauty Farms & Resorts: Rs 300 per sq.ft (2024)
• Beauty Dreams: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Cresent Nagar

For a 1,000 sq.ft plot in Cresent Nagar, the guideline value would amount to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cresent Nagar?

The Sub Registrar Office that covers Cresent Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during property registration in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

When registering a property, the guideline value will be used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. Understanding the guideline value helps in budgeting for the overall costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Cresent Nagar?

The current guideline value of Cresent Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023, and remains at Rs 250 per sq.ft for 2024.

What is the land classification for Cresent Nagar?

Cresent Nagar is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses of the land.

Where can I find the Sub Registrar Office for Cresent Nagar?

The Sub Registrar Office for Cresent Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Cresent Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 22,500.