Guideline Value for Hanif Nagar

Hanif Nagar guideline value

The current guideline value of Hanif Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Hanif Nagar has changed

The guideline value for Hanif Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 469 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Hanif Nagar's 2024 figure below this median.

• Gurukkal Street: Rs 880 per sq.ft (2024)
• Hasim Garden: Rs 880 per sq.ft (2024)
• Green City: Rs 1,430 per sq.ft (2024)
• Indhumathi Nagar: Rs 1,430 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Ganesh Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Hanif Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 Hanif Nagar?

The Sub Registrar Office that covers Hanif Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Hanif Nagar?

The current guideline value of Hanif Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value of Hanif Nagar has increased from Rs 469 per sq.ft to Rs 770 per sq.ft, which is an overall increase of 64% over the years.

What is the stamp duty rate for properties in Hanif Nagar?

The stamp duty rate for properties in Hanif Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office that covers Hanif Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the other streets in Manimangalam A with their guideline values?

Other streets in Manimangalam A include Gurukkal Street, Hasim Garden, Green City, Indhumathi Nagar, Ganga Nagar, and Ganesh Nagar, with guideline values ranging from Rs 770 to Rs 1,430 per sq.ft as of 2024.