Guideline Value for MANICKKESWARI ROAD

Manickkeswari Road guideline value

The current guideline value of Manickkeswari Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village, under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Manickkeswari Road has changed

The guideline value for Manickkeswari Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,800 per sq.ft, which increased to Rs 8,000 per sq.ft in the 2012 revision, marking a substantial rise of 186%. However, in the 2017 revision, the value decreased to Rs 5,360 per sq.ft, a drop of 33%. The value then rose again to Rs 8,000 per sq.ft in the 2023 revision, and finally to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 214%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Manickkeswari Road is above this median.

• Manicka Chetty Street: Rs 6,500 per sq.ft (2024)
• Mangapathy Naicken Street: Rs 4,900 per sq.ft (2024)
• Manonmani Ammal Street: Rs 7,700 per sq.ft (2024)
• Masudi Street: Rs 4,400 per sq.ft (2024)
• Medavakkam Tank 1st Street: Rs 6,500 per sq.ft (2024)
• Medavakkam Tank 2nd Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Manickkeswari Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Manickweswari Road?

The Sub Registrar Office that covers Manickkeswari Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value 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 helps both buyers and sellers understand the legal value of the property. It is essential for ensuring compliance with local regulations and for calculating the associated costs of the transaction.

Frequently asked questions

What is the current guideline value of Manickkeswari Road?

The current guideline value of Manickkeswari Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 214% over this period.

What is the stamp duty for property on Manickkeswari Road?

The stamp duty for property on Manickkeswari Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Manickkeswari Road located?

The Sub Registrar Office for Manickkeswari Road is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values of other streets in Purasaivakkam?

Other streets in Purasaivakkam have varying guideline values, with Manicka Chetty Street at Rs 6,500 per sq.ft, Mangapathy Naicken Street at Rs 4,900 per sq.ft, and others listed above. The guideline values range from Rs 2,200 to Rs 18,100 per sq.ft in the area.