Guideline Value for MANICK ENCLAVE

Manick Enclave guideline value

The current guideline value of Manick Enclave, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Manick Enclave has changed

The guideline value for Manick Enclave has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded to Rs 1,500 per sq.ft in the 2023 revision, and further increased to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 13%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with the median value being Rs 1,700 per sq.ft. Manick Enclave's 2024 guideline value aligns with this median.

• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Mahathma Gandhi Street: Rs 3,300 per sq.ft (2024)
• Mejestic Recidency: Rs 3,900 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)

Stamp duty and registration fee for property in Manick Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total costs together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manick Enclave?

The Sub Registrar Office that covers Manick Enclave is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manick Enclave?

The current guideline value of Manick Enclave is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 13%.

What is the land classification for Manick Enclave?

Manick Enclave falls under the Residential Class IV Type - I land classification, which is typical for residential areas in Tamil Nadu.

Where is the Neelankarai Sub Registrar Office located?

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 in Chemmancheri?

Stamp duty in Chemmancheri is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.