Guideline Value for JAGADAMBIKAI NAGAR 'MANIKAVASAKAR STREET'

Jagadambikai Nagar 'manikavasakar Street' guideline value

The current guideline value of Jagadambikai Nagar 'manikavasakar Street' is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Jagadambikai Nagar 'manikavasakar Street' has changed

The guideline value for Jagadambikai Nagar 'manikavasakar Street' has seen several revisions over the years. The 2012 revision set the value at Rs 3,100 per sq.ft, which was a decrease from Rs 2,077 per sq.ft in 2017. In 2023, the value increased to Rs 3,100 per sq.ft, and in the latest 2024 revision, it has risen to Rs 3,400 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, placing Jagadambikai Nagar 'manikavasakar Street' below this median value.

• Jagadambikai Nagar 'easwaran Koil Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'nammalvar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'appar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar (Padi): Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'sekhizhar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadambikai Nagar 'manikavasakar Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost for these fees Rs 3,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jagadambikai Nagar 'manikavasakar Street'?

The Jagadambikai Nagar 'manikavasakar Street' falls under the Villivakkam Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Padi. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jagadambikai Nagar 'manikavasakar Street'?

The current guideline value of Jagadambikai Nagar 'manikavasakar Street' is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, marking a 10% increase. The value was Rs 2,077 per sq.ft in 2017 and Rs 3,100 per sq.ft in 2012.

What is the stamp duty for property in Jagadambikai Nagar 'manikavasakar Street'?

The stamp duty for property in Jagadambikai Nagar 'manikavasakar Street' is charged at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000.

Which Sub Registrar Office is responsible for this area?

The Villivakkam Sub Registrar Office is responsible for Jagadambikai Nagar 'manikavasakar Street'. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Jagadambikai Nagar 'manikavasakar Street'?

Jagadambikai Nagar 'manikavasakar Street' is classified as Residential Class IV Type - II, indicating its designation for residential purposes.