Guideline Value for M R MANICKAM NAGAR

M R Manickam Nagar guideline value

The current guideline value of M R Manickam Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Mepur village under the Kunrathur SRO and is classified as Residential Class I Type - II.

How the guideline value of M R Manickam Nagar has changed

The guideline value for M R Manickam Nagar has undergone several revisions over the years. The earliest revision recorded was in 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but saw a substantial increase of 49% from 2017 to 2023. Overall, the guideline value increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mepur

Mepur village has 22 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,955 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that M R Manickam Nagar's 2024 figure is below this median.

• Mayavan Nagar: Rs 770 per sq.ft (2024)
• Navasakthi Nagar: Rs 770 per sq.ft (2024)
• Navasakthi Nagar Phase I Extention: Rs 770 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)
• Road Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in M R Manickam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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 M R Manickam Nagar?

The Sub Registrar Office that covers M R Manickam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mepur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair rate as per government standards.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M R Manickam Nagar?

The current guideline value of M R Manickam Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 in 2012 to Rs 402 in 2017, then increased to Rs 600 in 2023, and finally to Rs 660 in 2024. This reflects a significant increase in the most recent revision.

What are the stamp duty and registration fees for properties in M R Manickam Nagar?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value.

Which Sub Registrar Office covers M R Manickam Nagar?

The Kunrathur Sub Registrar Office covers M R Manickam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of M R Manickam Nagar?

M R Manickam Nagar is classified as Residential Class I Type - II, indicating its designation for residential development.