Guideline Value for MANIKKAM NAGAR EXTN

Manikkam Nagar Extn guideline value

The current guideline value of Manikkam Nagar Extn is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Manikkam Nagar Extn has changed

The guideline value for Manikkam Nagar Extn has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. Following this, the value saw a substantial increase to Rs 3,000 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Manikkam Nagar Extn.

• Manikkam Nagar: Rs 3,300 per sq.ft (2024)
• Manali Express Road: Rs 3,300 per sq.ft (2024)
• Market Lane Kaladipet: Rs 2,800 per sq.ft (2024)
• Mallikapuram: Rs 2,150 per sq.ft (2024)
• Marvadi Quarters: Rs 3,300 per sq.ft (2024)
• Masthan Koil Pattai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manikkam Nagar Extn

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

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

Which Sub Registrar Office covers Manikkam Nagar Extn?

The Sub Registrar Office that covers Manikkam Nagar Extn is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Manikkam Nagar Extn?

The current guideline value of Manikkam Nagar Extn is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the median guideline value in Thiruvottiyur?

The median guideline value in Thiruvottiyur is Rs 3,300 per sq.ft, which is the same as the guideline value for Manikkam Nagar Extn.

What are the stamp duty and registration fees for properties in Manikkam Nagar Extn?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Manikkam Nagar Extn located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.