Guideline Value for MAANSAROVAR NAGAR PHASE II

Maansarovar Nagar Phase II guideline value

The current guideline value of Maansarovar Nagar Phase II is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Erandankattalai village and falls under the Pammal SRO with a land classification of Mixed Special Type - I.

How the guideline value of Maansarovar Nagar Phase II has changed

The guideline value for Maansarovar Nagar Phase II has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,860 per sq.ft, which represents a 10% increase from the 2023 revision of Rs 2,600 per sq.ft. The register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, there was no recorded guideline value for this street in the earlier years. The 2023 revision marked a significant change, increasing the value from the previous years, leading to the current guideline value of Rs 2,860 per sq.ft.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Maansarovar Nagar Phase II's value above this median.

• Maansarovar Nagar: Rs 4,270 per sq.ft (2024)
• Madha Nagar: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Kodhai Avenue: Rs 1,100 per sq.ft (2024)
• MGR Street: Rs 1,100 per sq.ft (2024)
• Kannan Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Maansarovar Nagar Phase II

For a 1,000 sq.ft plot at the current rate of Rs 2,860 per sq.ft, the guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total Rs 2,57,400. 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 more details.

Which Sub Registrar Office covers Maansarovar Nagar Phase II?

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

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

The guideline value is essential during the registration process of property transactions in Erandankattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges. This ensures that the transaction is recorded accurately and reflects the value of the property as per the official register.

Frequently asked questions

What is the current guideline value of Maansarovar Nagar Phase II?

The current guideline value of Maansarovar Nagar Phase II is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,600 per sq.ft in 2023 to Rs 2,860 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Maansarovar Nagar Phase II?

Maansarovar Nagar Phase II is classified as Mixed Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Maansarovar Nagar Phase II is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 2,00,200.