Guideline Value for MANICKAM GARDEN

Manickam Garden guideline value

The current guideline value of Manickam Garden in Uthandi village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Manickam Garden has changed

The guideline value for Manickam Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 670 per sq.ft. The value remained at Rs 1,000 per sq.ft in the 2023 revision, before increasing to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Manickam Garden is below this median.

• Manimekalai Garden: Rs 1,100 per sq.ft (2024)
• Mandaveli Thidal: Rs 2,200 per sq.ft (2024)
• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Manthoppu Garden: Rs 2,200 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 per sq.ft (2024)
• Malleswari Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Manickam Garden?

The Sub Registrar Office covering Manickam Garden 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 details.

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

The guideline value is an important factor in the registration process when buying or selling property in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manickam Garden?

The current guideline value of Manickam Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the classification of land in Manickam Garden?

Manickam Garden is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

What is the stamp duty rate applicable in Uthandi?

The stamp duty rate applicable in Uthandi is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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.