Guideline Value for GRAND CENTRAL MANICKAM NAGAR PHASE I

Grand Central Manickam Nagar Phase I guideline value

The current guideline value of Grand Central Manickam Nagar Phase I is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Illaloor village under the Thiruporur SRO, classified as Mixed Type - I land.

How the guideline value of Grand Central Manickam Nagar Phase I has changed

The guideline value for Grand Central Manickam Nagar Phase I has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. In 2017, this value decreased to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Illaloor

In Illaloor, there are 17 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,100 per sq.ft. The median value is Rs 1,150 per sq.ft, indicating that Grand Central Manickam Nagar Phase I's current value is below this median.

• Ajs Avenue: Rs 739 per sq.ft (2024)
• Adhithyaa Promoters Varam Phase II: Rs 1,971 per sq.ft (2024)
• Adhithyaa Promoters Varam Phase I: Rs 1,315 per sq.ft (2024)
• Omr Golden City: Rs 1,150 per sq.ft (2024)
• Saithra Avenue: Rs 739 per sq.ft (2024)
• Serasa Greens: Rs 1,396 per sq.ft (2024)

Stamp duty and registration fee for property in Grand Central Manickam Nagar Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grand Central Manickam Nagar Phase I?

The Sub Registrar Office covering Grand Central Manickam Nagar Phase I is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Illaloor. It helps determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to assess the applicable fees, ensuring that both buyers and sellers are aware of their financial obligations. This value serves as a standard measure for property transactions within the area.

Frequently asked questions

What is the current guideline value of Grand Central Manickam Nagar Phase I?

The current guideline value of Grand Central Manickam Nagar Phase I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Grand Central Manickam Nagar Phase I?

Grand Central Manickam Nagar Phase I is classified as Mixed Type - I land according to the guidelines.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Where is the Sub Registrar Office for this property located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.