Guideline Value for MANIKODI SRINIVASAN NAGAR 4TH STREET

Manikodi Srinivasan Nagar 4th Street guideline value

The current guideline value of Manikodi Srinivasan Nagar 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Manikodi Srinivasan Nagar 4th Street has changed

Over the years, the guideline value for Manikodi Srinivasan Nagar 4th Street has seen several revisions. The earliest recorded figure is from 2002, which was Rs 217 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking a change of +38%. The value then rose significantly to Rs 750 per sq.ft in 2007, a notable increase of +150%. In 2012, the figure was recorded at Rs 2,500 per sq.ft, reflecting a substantial increase of +233% from the previous revision. However, this value decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,800 per sq.ft in 2024, which is an increase of +12% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1190%. There are no figures available for the revisions in years not listed in the register for this street.

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 for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Manikodi Srinivasan Nagar 4th Street.

• Manikodi Srinivasan Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 1st 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 4th 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 fees together to Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Manikodi Srinivasan Nagar 4th Street?

The Sub Registrar Office that covers Manikodi Srinivasan Nagar 4th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value is used to assess the applicable taxes and fees. This ensures that both parties are aware of the financial obligations associated with the transaction, making the process smoother and more transparent.

Frequently asked questions

What is the current guideline value of Manikodi Srinivasan Nagar 4th Street?

The current guideline value of Manikodi Srinivasan Nagar 4th 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 are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000. The stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for this area?

The Neelankarai Sub Registrar Office handles registrations for Manikodi Srinivasan Nagar 4th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Manikodi Srinivasan Nagar 4th Street?

Manikodi Srinivasan Nagar 4th Street is classified as Residential Class II Type - I, indicating its primary use for residential purposes.