Guideline Value for MAANSAROVAR NAGAR PHASE I

Maansarovar Nagar Phase I guideline value

The current guideline value of Maansarovar Nagar Phase I is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Nemam_B village and falls under the Avadi Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - II.

How the guideline value of Maansarovar Nagar Phase I has changed

The guideline value for Maansarovar Nagar Phase I has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 1,000 per sq.ft, which increased by 10% to Rs 1,100 per sq.ft in the 2024 revision.

Prior to the 2023 revision, the register has no figures for this street in the years mentioned. The first recorded change in the guideline value for this area was in 2023, which marked a significant increase from the previous amount.

Guideline values in Nemam_B

In Nemam_B, there are 24 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 3,500 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Maansarovar Nagar Phase I's 2024 figure above that median.

• Maansarovar Nagar Phase II: Rs 1,100 per sq.ft (2024)
• Ms Smart City: Rs 770 per sq.ft (2024)
• Kamatchi Nagar: Rs 330 per sq.ft (2024)
• New Metro City: Rs 330 per sq.ft (2024)
• New Metro City Annex - S.No.755/2: Rs 440 per sq.ft (2024)
• Glorious City: Rs 330 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 I?

The Sub Registrar Office that covers Maansarovar Nagar Phase I is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemam_B, as it determines the amount of stamp duty and registration fees that must be paid. When buying or selling property, the guideline value is considered to ensure that the transaction is registered accurately and legally.

It is important to note that the guideline value must be adhered to during the registration process, as it reflects the government's assessment of property values in the area. This helps maintain transparency and fairness in real estate transactions.

Frequently asked questions

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

The current guideline value of Maansarovar Nagar Phase I is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Maansarovar Nagar Phase I?

The land classification for Maansarovar Nagar Phase I is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft would incur a total fee of Rs 99,000.

Where can I find the Sub Registrar Office for Maansarovar Nagar Phase I?

The Avadi Sub Registrar Office covers Maansarovar Nagar Phase I, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.