Guideline Value for MANIKANDAN NAGAR 1 TO 2 STREETS

Manikandan Nagar 1 To 2 Streets guideline value

The current guideline value for Manikandan Nagar 1 To 2 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, and the land classification is Mixed Type - II.

How the guideline value of Manikandan Nagar 1 To 2 Streets has changed

Over the years, the guideline value for Manikandan Nagar 1 To 2 Streets has undergone several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the value increased to Rs 3,300 per sq.ft, marking a significant change of +32% from the previous year.

Looking at the overall changes, from the 2012 revision to the 2024 revision, there has been an increase of +32%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft in 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Manikandan Nagar's 2024 figure above this median.

• Manikandan Nagar: Rs 3,300 per sq.ft (2024)
• Maniammai Street: Rs 3,850 per sq.ft (2024)
• Mangambal Nagar: Rs 1,960 per sq.ft (2024)
• Medavakkam Main Road: Rs 3,850 per sq.ft (2024)
• Loganathan Street: Rs 2,750 per sq.ft (2024)
• M.G.R. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Nagar 1 To 2 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manikandan Nagar 1 To 2 Streets?

The Sub Registrar Office that covers Manikandan Nagar 1 To 2 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nanmangalam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is registered at a value that reflects its market worth.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the transaction legally. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manikandan Nagar 1 To 2 Streets?

The current guideline value for Manikandan Nagar 1 To 2 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 32%, going from Rs 2,500 per sq.ft to Rs 3,300 per sq.ft.

What is the land classification for Manikandan Nagar?

The land classification for Manikandan Nagar is Mixed Type - II, which indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Manikandan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to specific fees based on that amount.