Guideline Value for MANICKAM CROSS STREET

Manickam Cross Street guideline value

The current guideline value of Manickam Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Manickam Cross Street has changed

The guideline value for Manickam Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to the current rate of Rs 2,750 per sq.ft in 2024. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Manickam Cross Street above this median.

• Manickam Street: Rs 2,750 per sq.ft (2024)
• Manimegalai Street: Rs 2,200 per sq.ft (2024)
• Mahaveerar Street Veera Anjaneyar Nagar: Rs 1,870 per sq.ft (2024)
• Masoothi Street: Rs 2,200 per sq.ft (2024)
• Mahagaveer Street: Rs 2,200 per sq.ft (2024)
• Mageshwari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Cross Street?

The Sub Registrar Office that covers Manickam Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Manickam Cross Street?

The current guideline value of Manickam Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Manickam Cross Street?

Manickam Cross Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for property registration covering Manickam Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Jelandianpettai?

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 at the time of registration.