Guideline Value for MANAVALAN GARDEN

Manavalan Garden guideline value

The current guideline value of Manavalan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Manavalan Garden has changed

The guideline value for Manavalan Garden has seen several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft. This figure then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision set the value at Rs 1,100 per sq.ft.

Between the revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, making Manavalan Garden's 2024 figure below that median.

• Manick Enclave: Rs 1,700 per sq.ft (2024)
• Mahathma Gandhi Street: Rs 3,300 per sq.ft (2024)
• Madhu Sudanam Garden (Near Omr): Rs 1,700 per sq.ft (2024)
• Madhusudanam Garden: Rs 1,100 per sq.ft (2024)
• Lingesan Garden: Rs 1,700 per sq.ft (2024)
• Mejestic Recidency: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Manavalan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, resulting in a total of Rs 99,000. It is important to note that the 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 Manavalan Garden?

The Sub Registrar Office that covers Manavalan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It is used to determine 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 higher value between the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the transaction reflects the appropriate financial obligations as per the current regulations.

Frequently asked questions

What is the current guideline value of Manavalan Garden?

The current guideline value of Manavalan Garden 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 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Manavalan Garden?

Manavalan Garden is classified as Residential Class IV Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property in Manavalan Garden?

The stamp duty rate for property transactions in Manavalan Garden is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Manavalan Garden located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.