Guideline Value for MANICKAM STREET

Manickam Street guideline value

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

How the guideline value of Manickam Street has changed

Over the years, the guideline value of Manickam Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 820 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 205%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 2,750 per sq.ft, showing a growth of 10% from the previous year.

In summary, from the 2007 revision to the 2024 revision, there has been an overall increase of 235% in the guideline value. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Manickam Street's 2024 guideline value is above this median.

• Manickam Cross 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)
• Medavakkam Annex Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam 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, making the total of these fees Rs 2,47,500. 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 Street?

The Sub Registrar Office that covers Manickam 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it affects the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Manickam Street?

The current guideline value of Manickam 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 increased from Rs 820 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 235% over this period.

What is the land classification for Manickam Street?

Manickam Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Manickam Street?

The registration for Manickam Street is handled by 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.