Guideline Value for MANICKA VINAYAGAR KOIL STREET

Manicka Vinayagar Koil Street guideline value

The current guideline value of Manicka Vinayagar Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Manicka Vinayagar Koil Street has changed

The guideline value for Manicka Vinayagar Koil Street has undergone several revisions over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a change of +30%. The subsequent revision in 2012 saw a significant jump to Rs 3,500 per sq.ft, representing an increase of +483% from the 2007 figure. The latest revision in 2024 brought the guideline value to Rs 3,800 per sq.ft, a change of +9% from 2012.

It is important to note that the register has no figures for the years 2002, 2017, and 2023 for this street. Overall, from 2003 to 2024, the guideline value has increased by +724%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Manicka Vinayagar Koil Street is above this median.

• Manimegalai Street: Rs 2,700 per sq.ft (2024)
• Mannarsamy Koil Street: Rs 4,300 per sq.ft (2024)
• Ma.Po.Si Street: Rs 2,700 per sq.ft (2024)
• Manali Salai: Rs 4,900 per sq.ft (2024)
• Malligaipoo Colony Main Road: Rs 2,700 per sq.ft (2024)
• Malligaipoo Colony 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Manicka Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration fee would be Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manicka Vinayagar Koil Street?

The Sub Registrar Office that covers Manicka Vinayagar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manicka Vinayagar Koil Street?

The current guideline value of Manicka Vinayagar Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 461 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +724% over the years.

What is the land classification for Manicka Vinayagar Koil Street?

Manicka Vinayagar Koil Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Manicka Vinayagar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.