Guideline Value for KAMALAKSHI MANICKAM NAGAR

Kamalakshi Manickam Nagar guideline value

The current guideline value for Kamalakshi Manickam Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Venmanamputhur village under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Kamalakshi Manickam Nagar has changed

The guideline value for Kamalakshi Manickam Nagar has seen several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in 2017. Following this, the value increased significantly to Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, showing no overall change despite fluctuations in earlier years.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO with guideline values ranging from Rs 200 to Rs 400 per sq.ft. The median value is Rs 200 per sq.ft, which is the same as the current guideline value for Kamalakshi Manickam Nagar.

• Kamalakshi Manickam Avenue: Rs 200 per sq.ft (2024)
• Kailash Nagar(S.No258,.259.262): Rs 200 per sq.ft (2024)
• J.K. Nagar( 244/1.2.246/1): Rs 200 per sq.ft (2024)
• Jayandra Swamigal Nagar: Rs 200 per sq.ft (2024)
• Kasthuri Ammaan Nagar: Rs 200 per sq.ft (2024)
• K.G.R. Aavin Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamalakshi Manickam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Kamalakshi Manickam Nagar?

The Sub Registrar Office that covers Kamalakshi Manickam Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Venmanamputhur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the registration department.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property must be registered. This ensures transparency and adherence to legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Kamalakshi Manickam Nagar?

The current guideline value of Kamalakshi Manickam Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, there has been no change in the value.

What is the land classification of Kamalakshi Manickam Nagar?

Kamalakshi Manickam Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Kamalakshi Manickam Nagar?

The stamp duty for properties in Kamalakshi Manickam Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamalakshi Manickam Nagar?

The Sub Registrar Office for Kamalakshi Manickam Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.