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 Peramanoor village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - V.

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

The guideline value for Manickavasagar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. However, this figure dropped to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Manickavasagar Street's 2024 figure above this 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 cost for these fees 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 calculate your fees using the stamp duty and registration fee calculator.

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, 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 Peramanoor

The guideline value is a critical factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Manickavasagar Street?

Manickavasagar Street falls under the land classification of Residential Special Type - V.

How does the guideline value compare to other streets in Peramanoor?

The guideline value of Rs 1,320 per sq.ft for Manickavasagar Street is above the median value of Rs 1,100 per sq.ft for the 430 streets in Peramanoor under the Chengleput Joint II SRO.

What are the fees associated with buying property in Manickavasagar Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.