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 Uthandi village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Manavalan Garden has changed

The guideline value for Manavalan Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced 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 raised it to Rs 1,100 per sq.ft. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The latest revision reflects a 10% increase from the previous year.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Manavalan Garden's guideline value of Rs 1,100 per sq.ft is below this median.

• Mandaveli Thidal: Rs 2,200 per sq.ft (2024)
• Malleswari Garden: Rs 1,100 per sq.ft (2024)
• Manickam Garden: Rs 1,100 per sq.ft (2024)
• Manimekalai Garden: Rs 1,100 per sq.ft (2024)
• Manthoppu Garden: Rs 2,200 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 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, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Uthandi

The guideline value is a crucial factor when registering property in Uthandi, as it determines the amount of stamp duty and registration fees that must be paid. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction. The stamp duty is calculated based on the higher value between the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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 III Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in Manavalan Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft would incur a stamp duty of Rs 77,000.