Guideline Value for MANICKAM NAGAR

Manickam Nagar guideline value

The current guideline value of Manickam Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kovilkuppam village and falls under the Manavalanagar SRO, classified as Residential Class II Type - II.

How the guideline value of Manickam Nagar has changed

Looking at the historical revisions, the guideline value for Manickam Nagar has seen various changes over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision recorded a lower value of Rs 234 per sq.ft, reflecting a decrease of 33% from the 2012 figure. However, from 2017 to 2023, the value increased by 50% back to Rs 350 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 350 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with 2024 guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, which aligns with the guideline value of Manickam Nagar.

• Marudur Town: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Kothandarama Naidu Nagar: Rs 350 per sq.ft (2024)
• Kaveri Nagar: Rs 300 per sq.ft (2024)
• Pemmasani Avenue: Rs 300 per sq.ft (2024)
• J.S.Nagar: Rs 700 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total cost for these fees to Rs 31,500. 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 Manickam Nagar?

The Sub Registrar Office that covers Manickam Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Kovilkuppam, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for the transaction, providing a reference point for both parties involved.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

The current guideline value of Manickam Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the 2012 revision at Rs 350 per sq.ft, dropping to Rs 234 per sq.ft in 2017, and then returning to Rs 350 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,50,000, the stamp duty is Rs 24,500, and the registration fee is Rs 7,000, totaling Rs 31,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Manickam Nagar?

The Manavalanagar Sub Registrar Office covers Manickam Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Manickam Nagar?

Manickam Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.