Guideline Value for MANICKAM STREET / MANICKA NAICKAR STREET

Manickam Street / Manicka Naickar Street guideline value

The current guideline value of Manickam Street / Manicka Naickar Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Manickam Street / Manicka Naickar Street has changed

The guideline value for Manickam Street / Manicka Naickar Street has undergone several revisions over the years. In 2002, the value was Rs 50 per sq.ft, which increased to Rs 58 per sq.ft in 2003. The value saw a significant rise to Rs 200 per sq.ft in 2007, followed by a further increase to Rs 600 per sq.ft in 2012. However, it decreased to Rs 402 per sq.ft in 2017. The value then rose again to Rs 1,000 per sq.ft in 2023, and it currently stands at Rs 1,001 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. The increase from 2017 to 2023 was +149%. The value dropped by -33% from 2012 to 2017. The rise from 2007 to 2012 was +200%, while the increase from 2003 to 2007 was +245%. From 2002 to 2024, the overall increase is +1902%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Manickam Street / Manicka Naickar Street is below this median.

• Manicka Vasagar Street: Rs 1,000 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 1,300 per sq.ft (2024)
• Lakshmi Nagar / A.S.P. Nagar: Rs 1,001 per sq.ft (2024)
• Kumari Anandan Street: Rs 1,300 per sq.ft (2024)
• Kumaran Street: Rs 1,001 per sq.ft (2024)
• Munuswamy Naickar Street / Sai Nagar Colony / Munuswamy Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Street / Manicka Naickar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,001 per sq.ft, the guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, totaling Rs 90,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Street / Manicka Naickar Street?

The Sub Registrar Office that covers Manickam Street / Manicka Naickar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chinnasekkadu. It is used to determine the stamp duty and registration fees payable during the registration of property. Buyers and sellers must consider the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value serves as a benchmark for assessing the value of the property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Manickam Street / Manicka Naickar Street?

The current guideline value of Manickam Street / Manicka Naickar Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, marking an overall increase of +1902% over the years.

What is the land classification for Manickam Street / Manicka Naickar Street?

The land classification for Manickam Street / Manicka Naickar Street is Residential Class II Type - I.

Which office handles registrations for properties in Chinnasekkadu?

The Thiruvottiyur Sub Registrar Office handles registrations for properties in Chinnasekkadu, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 90,090 in fees.