Guideline Value for MAANSAROVAR NAGAR

Maansarovar Nagar guideline value

The current guideline value of Maansarovar Nagar is Rs 4,270 per sq.ft. This area is located in Erandankattalai village, under the Pammal SRO, and is classified as Mixed Special Type - III.

How the guideline value of Maansarovar Nagar has changed

Looking at the revisions, the guideline value for Maansarovar Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 2,600 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 2,600 per sq.ft. However, in the 2024 revision, the value increased to Rs 4,270 per sq.ft, marking a 64% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 64% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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's 2024 figure above this median.

• Maansarovar Nagar Phase II: Rs 2,860 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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,270 per sq.ft, the total guideline value amounts to Rs 42,70,000. The stamp duty at 7% would be Rs 2,98,900, and the registration fee at 2% would be Rs 85,400, making the total cost Rs 3,84,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maansarovar Nagar?

The Sub Registrar Office that covers Maansarovar 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Erandankattalai. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, as it reflects the official rates set by the government. This helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Maansarovar Nagar?

The current guideline value of Maansarovar Nagar is Rs 4,270 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value increased by 64%. The value remained unchanged at Rs 2,600 per sq.ft from 2017 to 2023 before rising to Rs 4,270 per sq.ft in 2024.

What is the land classification of Maansarovar Nagar?

Maansarovar Nagar is classified as Mixed Special Type - III, which is important for understanding the zoning and usage regulations in the area.

Where can I find the registration office for Maansarovar Nagar?

The registration office for Maansarovar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Maansarovar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 42,70,000 would incur a stamp duty of Rs 2,98,900.