Guideline Value for MANICKAM NAGAR

Manickam Nagar guideline value

The current guideline value of Manickam Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Manickam Nagar has changed

Over the years, the guideline value of Manickam Nagar has experienced several revisions. The oldest available figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 2,160 per sq.ft, reflecting a rise of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Manickam Nagar is below this median.

• Manickavel Nagar (Manickam Street): Rs 2,750 per sq.ft (2024)
• Manimegalai street: Rs 3,300 per sq.ft (2024)
• Manimegalai street Exten.: Rs 3,300 per sq.ft (2024)
• Mani Street: Rs 3,850 per sq.ft (2024)
• Malliga Street: Rs 2,160 per sq.ft (2024)
• Malliga Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total cost for these fees Rs 1,94,400. Please note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Manickam Nagar?

The Sub Registrar Office that covers Manickam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions reflect fair values in the real estate market.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

The current guideline value of Manickam Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,160 per sq.ft in 2024. Overall, there has been an 8% increase from 2012 to 2024.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Manickavel Nagar (Manickam Street) at Rs 2,750 per sq.ft, Manimegalai street and Manimegalai street Exten. both at Rs 3,300 per sq.ft, and Mani Street at Rs 3,850 per sq.ft. Malliga Street and Malliga Nagar both have a guideline value of Rs 2,160 per sq.ft.

What is the stamp duty for property in Manickam Nagar?

The stamp duty for property in Manickam Nagar is calculated at 7% of the guideline value. For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200.

Where can I find the Sub Registrar Office for Manickam Nagar?

The Sub Registrar Office for Manickam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.