Guideline Value for MAANSAROVAR NAGAR

Maansarovar Nagar guideline value

The current guideline value of Maansarovar Nagar is Rs 3,450 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village, under the Pammal Sub Registrar Office (SRO). The land classification for this locality is Residential Special Type - II.

How the guideline value of Maansarovar Nagar has changed

The guideline value for Maansarovar Nagar has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision was in 2023, where the guideline value was Rs 3,135 per sq.ft. This was an increase from the previous revision, marking a change of +10% to the current value of Rs 3,450 per sq.ft effective from 1 July 2024.

In summary, the guideline value increased from Rs 3,135 per sq.ft in 2023 to Rs 3,450 per sq.ft in 2024. This change reflects the ongoing adjustments in property values in the area, aligning with the overall trends observed in the Pammal SRO region.

Guideline values in Kerugambakkam

Kerugambakkam village has a total of 144 streets under the Pammal SRO, with guideline values ranging from Rs 1,100 to Rs 4,800 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Maansarovar Nagar's current value is above this median.

• Madha Town Extension - I: Rs 3,850 per sq.ft (2024)
• Madha Town Extn: Rs 2,860 per sq.ft (2024)
• Madha Town Madha Town: Rs 2,860 per sq.ft (2024)
• Lendi Garden: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar (ward 6): Rs 2,200 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 3,450 per sq.ft, the total guideline value would be Rs 34,50,000. The stamp duty at 7% would amount to Rs 2,41,500, and the registration fee at 2% would be Rs 69,000. Together, the total cost for stamp duty and registration would be Rs 3,10,500. 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 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 Kerugambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the property transfer process.

When a property is registered, the guideline value is used to calculate the stamp duty, which is a mandatory charge imposed by the government. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Maansarovar Nagar?

The current guideline value of Maansarovar Nagar is Rs 3,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,135 per sq.ft in 2023 to Rs 3,450 per sq.ft in 2024, marking a +10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Kerugambakkam?

Other streets in Kerugambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 4,800 per sq.ft. For instance, Madha Town Extension - I is valued at Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Maansarovar Nagar?

The stamp duty for a property valued at Rs 34,50,000 would be Rs 2,41,500, and the registration fee would be Rs 69,000, totaling Rs 3,10,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Maansarovar Nagar?

The Pammal Sub Registrar Office handles property registrations in Maansarovar Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.