Guideline Value for MAANASAROVAR NAGAR

Maanasarovar Nagar guideline value

The current guideline value of Maanasarovar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Maanasarovar Nagar has changed

The guideline value for Maanasarovar Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, and the most recent revision in 2024 increased it to Rs 2,750 per sq.ft, marking a significant rise of 64%. Notably, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register.

From the 2017 revision to the 2024 revision, the increase reflects changes in the property landscape. The previous revisions do not provide any figures for Maanasarovar Nagar, indicating a period of stability before the recent adjustment in 2024.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, with rates ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Maanasarovar Nagar's 2024 figure above this median.

• Maansarovar villa: Rs 4,600 per sq.ft (2024)
• Madha Nagarn Extn: Rs 2,200 per sq.ft (2024)
• Lalitha Nagar: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar (ward 3): Rs 2,750 per sq.ft (2024)
• Maruthi Nagar: Rs 2,750 per sq.ft (2024)
• Maxworth Nagar Phase I: Rs 3,290 per sq.ft (2024)

Stamp duty and registration fee for property in Maanasarovar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maanasarovar Nagar?

The Sub Registrar Office that covers Maanasarovar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives its due revenue from property transactions.

When a property is sold, the guideline value helps in establishing a fair price for taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Maanasarovar Nagar?

The current guideline value of Maanasarovar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Kolapakkam?

The median guideline value for streets in Kolapakkam is Rs 2,200 per sq.ft. Maanasarovar Nagar's 2024 figure is above this median.

What are the stamp duty and registration fees for Maanasarovar Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Maanasarovar Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.