Guideline Value for MANIKANDAN STREET

Manikandan Street guideline value

The current guideline value of Manikandan Street in Vengathur village, under the Manavalanagar SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Manikandan Street has changed

The guideline value for Manikandan Street has seen several revisions over the years. Starting from Rs 125 per sq.ft in 2007, the value increased significantly to Rs 600 per sq.ft in 2012, marking a 380% rise. However, it then dropped to Rs 402 per sq.ft in 2017, reflecting a decrease of 33%. The value remained at Rs 600 per sq.ft in both 2023 and the upcoming 2024 revision, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2007 to 2024 shows an increase of 380%. This consistent rise in value highlights the adjustments made over the years, with the current rate reflecting stability since 2023.

Guideline values in Vengathur

In Vengathur, there are a total of 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Manikandan Street's 2024 guideline value is below this median.

• Ma.Pa.Sarathi: Rs 700 per sq.ft (2024)
• Ma.Po.See. Street: Rs 1,300 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,300 per sq.ft (2024)
• Marudham Street: Rs 700 per sq.ft (2024)
• Marudhi Street: Rs 1,300 per sq.ft (2024)
• Mayar Chitti Babu Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manikandan Street?

The Sub Registrar Office that covers Manikandan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengathur. 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 registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers adhere to the legal requirements. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Manikandan Street?

The current guideline value of Manikandan Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has remained at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Manikandan Street?

Manikandan Street is classified as Residential Class III Type - I.

Where can I find more information about the registration office?

The registration office for Manikandan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.