Guideline Value for MANIAMMAI STREET

Maniammai Street guideline value

The current guideline value of Maniammai Street in Nanmangalam village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - I land.

How the guideline value of Maniammai Street has changed

The guideline value for Maniammai Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft. This figure dramatically increased to Rs 3,500 per sq.ft in the 2012 revision, marking a significant rise of 775%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 has set the current value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 863%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of 2024. The median value for these streets is Rs 2,750 per sq.ft, placing Maniammai Street's current guideline value above this median.

• Mangambal Nagar: Rs 1,960 per sq.ft (2024)
• Manikandan Nagar: Rs 3,300 per sq.ft (2024)
• Manikandan Nagar 1 To 2 Streets: Rs 3,300 per sq.ft (2024)
• Medavakkam Main Road: Rs 3,850 per sq.ft (2024)
• Loganathan Street: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maniammai Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, these fees total Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Maniammai Street?

The Sub Registrar Office that covers Maniammai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Nanmangalam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial aspects of property transactions. Ensuring that the property is registered at the correct guideline value helps in avoiding any legal complications in the future.

Frequently asked questions

What is the current guideline value of Maniammai Street?

The current guideline value of Maniammai Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 863% over the years.

What is the median guideline value in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, with Maniammai Street's current value being above this median.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a property with a guideline value of Rs 38,50,000 would incur a total of Rs 3,46,500 in fees.