Guideline Value for MANIKODI SRINIVASAN NAGAR 1ST STREET

Manikodi Srinivasan Nagar 1st Street guideline value

The current guideline value of Manikodi Srinivasan Nagar 1st Street is Rs 2,800 per sq.ft. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Manikodi Srinivasan Nagar 1st Street has changed

The guideline value for Manikodi Srinivasan Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 217 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking a change of +38%. The value saw a significant rise to Rs 750 per sq.ft in 2007, an increase of +150%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a +49% increase from 2012. The most recent revisions show that in 2023, the value was Rs 2,500 per sq.ft, and as of July 1, 2024, it has increased to Rs 2,800 per sq.ft, marking a +12% change.

There are no figures available for revisions other than those listed above for this street. Overall, from 2002 to 2024, the guideline value has increased by +1190%.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value is Rs 2,800 per sq.ft, which aligns with the current value of Manikodi Srinivasan Nagar 1st Street.

• Manikodi Srinivasan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 7th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Manikodi Srinivasan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Manikodi Srinivasan Nagar 1st Street?

The Sub Registrar Office that covers Manikodi Srinivasan Nagar 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a critical component in the property registration process in Seevaram. When you buy or sell a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally documented and the necessary taxes are collected.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial obligations during the registration process. Accurate knowledge of these values helps in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Manikodi Srinivasan Nagar 1st Street?

The current guideline value of Manikodi Srinivasan Nagar 1st Street is Rs 2,800 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 217 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of +1190%.

What are the other streets in Seevaram with the same guideline value?

Other streets in Seevaram that share the same guideline value of Rs 2,800 per sq.ft include Manikodi Srinivasan Nagar 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street.

What is the stamp duty rate for properties in Manikodi Srinivasan Nagar 1st Street?

The stamp duty rate for properties in Manikodi Srinivasan Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manikodi Srinivasan Nagar 1st Street?

The Sub Registrar Office for Manikodi Srinivasan Nagar 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.