Guideline Value for MANICKA VASAGAR STREET

Manicka Vasagar Street guideline value

The current guideline value of Manicka Vasagar Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Manicka Vasagar Street has changed

The guideline value for Manicka Vasagar Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 94 per sq.ft. This increased to Rs 109 per sq.ft in 2003, marking a change of +16%. The value then rose significantly to Rs 300 per sq.ft in 2007, which represented a +175% increase. In 2012, the value was revised to Rs 800 per sq.ft, reflecting a substantial +167% change. However, from 2012 to 2017, the guideline value decreased to Rs 536 per sq.ft, a drop of -33%. The value increased again to Rs 1,000 per sq.ft in 2023, and it remained the same in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by +964%. There are no figures available for the revisions in years other than those listed.

Guideline values in Chinnasekkadu

In Chinnasekkadu village, there are 49 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 2,200 per sq.ft, with the median being Rs 1,100 per sq.ft. The guideline value for Manicka Vasagar Street is below this median.

• Manickam Street / Manicka Naickar Street: Rs 1,001 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar / A.S.P. Nagar: Rs 1,001 per sq.ft (2024)
• Kumari Anandan Street: Rs 1,300 per sq.ft (2024)
• Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street: Rs 1,300 per sq.ft (2024)
• Kumaran Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Manicka Vasagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 Manicka Vasagar Street?

The Sub Registrar Office that covers Manicka Vasagar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Chinnasekkadu. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to consider the guideline value, as it ensures compliance with legal requirements during registration. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Manicka Vasagar Street?

The current guideline value of Manicka Vasagar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of +964%.

What is the land classification of Manicka Vasagar Street?

Manicka Vasagar Street is classified as Residential Class I Type - III.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Chinnasekkadu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.