Guideline Value for MANIKODI SRINIVASAN NAGAR 3RD STREET

Manikodi Srinivasan Nagar 3rd Street guideline value

The current guideline value of Manikodi Srinivasan Nagar 3rd 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 3rd Street has changed

The guideline value for Manikodi Srinivasan Nagar 3rd Street has undergone several revisions over the years. Starting from Rs 217 per sq.ft in 2002, it increased to Rs 300 per sq.ft in 2003, marking a 38% rise. In 2007, the value further escalated to Rs 750 per sq.ft, reflecting a significant increase of 150%. By 2012, the guideline value was Rs 2,500 per sq.ft, which represented a 233% increase from 2007. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 2,500 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Seevaram

In Seevaram village, 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 for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Manikodi Srinivasan Nagar 3rd Street.

• Manikodi Srinivasan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be 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, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manikodi Srinivasan Nagar 3rd Street?

The Sub Registrar Office that covers Manikodi Srinivasan Nagar 3rd 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 further assistance.

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

The guideline value is an essential factor when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Manikodi Srinivasan Nagar 3rd Street?

The current guideline value of Manikodi Srinivasan Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the land classification for Manikodi Srinivasan Nagar 3rd Street?

Manikodi Srinivasan Nagar 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions in this area?

The stamp duty for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Manikodi Srinivasan Nagar 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.