Guideline Value for MANICKAVASAGAR STREET (WARD -6)

Manickavasagar Street (Ward -6) guideline value

The current guideline value of Manickavasagar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, and the land classification is Residential Special Type - V.

How the guideline value of Manickavasagar Street (Ward -6) has changed

The guideline value for Manickavasagar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the 2023 revision raised the value to Rs 1,200 per sq.ft, and the current 2024 revision has increased it further to Rs 1,320 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, placing Manickavasagar Street's 2024 figure above that median.

• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Maraimalai Adigalar Street (Ward -4): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manickavasagar Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manickavasagar Street (Ward -6)?

The Sub Registrar Office that covers Manickavasagar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration process of property transactions in Panangottur. It is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established rates.

When buying or selling property, it is essential to understand that the guideline value is used as a reference point for financial transactions. It ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Manickavasagar Street (Ward -6)?

The current guideline value of Manickavasagar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the guideline values of other streets in Panangottur?

In Panangottur, the guideline values of other streets vary significantly. For instance, Mangayarkarasi Street has a guideline value of Rs 1,760 per sq.ft, while Mamarathu Gate Union Road has a value of Rs 990 per sq.ft.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that all legal requirements are met. It also calculates the applicable stamp duty and registration fees based on the guideline value.

How is stamp duty calculated for properties in Manickavasagar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the stamp duty would be Rs 92,400.