Guideline Value for MANICKA VASAGAR STREET(GRAMA NEDUNCHALAI 37TH CROSS STREET)

Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street) guideline value

The current guideline value of Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street) has changed

The guideline value for Manicka Vasagar Street has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Manicka Vasagar Street.

• Manickam Street: Rs 1,700 per sq.ft (2024)
• Mamallah Farms: Rs 1,700 per sq.ft (2024)
• Mallikeswari Lane: Rs 1,700 per sq.ft (2024)
• Marbhi Street: Rs 1,700 per sq.ft (2024)
• Mark Garden: Rs 1,700 per sq.ft (2024)
• Maillika Street(Grama Nedunchalai 4th Cross Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street)?

The Sub Registrar Office that covers Manicka Vasagar Street 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 Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is set by the government and can vary between different streets within the same village.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manicka Vasagar Street?

The current guideline value of Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64% over the seven years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for this street?

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

Are there other streets with similar guideline values in Sholinganallur - 1?

Yes, there are other streets in Sholinganallur - 1 with similar guideline values, including Maillika Street(Grama Nedunchalai 4th Cross Street), which also has a guideline value of Rs 2,200 per sq.ft.