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Guideline Value

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Guideline Value for MANIKODI SRINIVASAN NAGAR 5TH STREET

₹2800/sq.ft.

The guideline value for Manikodi Srinivasan Nagar 5th Street in Seevaram village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Seevaram

Village

Neelankarai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2800 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹300 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹217 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Manikodi Srinivasan Nagar 5th Street

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Manikodi Srinivasan Nagar 5th Street guideline value

The current guideline value of Manikodi Srinivasan Nagar 5th 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 5th Street has changed

The guideline value for Manikodi Srinivasan Nagar 5th Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 217 per sq.ft. This increased to Rs 300 per sq.ft in 2003, followed by a significant rise to Rs 750 per sq.ft in 2007. The 2012 revision saw the value at Rs 2,500 per sq.ft, but it dropped to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, culminating in the current rate of Rs 2,800 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 is noted at 12%. The 2012 to 2017 period saw a decrease of 33%, and the 2007 to 2012 period experienced a remarkable increase of 233%. The overall change from 2002 to 2024 reflects an increase of 1190% in the guideline value.

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, with a median value of Rs 2,800 per sq.ft. The guideline value for Manikodi Srinivasan Nagar 5th Street aligns with this median.

Stamp duty and registration fee for property in Manikodi Srinivasan Nagar 5th 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 to Rs 2,52,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Manikodi Srinivasan Nagar 5th Street?

The Sub Registrar Office that covers Manikodi Srinivasan Nagar 5th 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 a crucial factor in the registration process when buying or selling property in Seevaram. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded officially and accurately.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations, providing a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Manikodi Srinivasan Nagar 5th Street?

The current guideline value of Manikodi Srinivasan Nagar 5th 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 significantly 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 registration fee for property in Manikodi Srinivasan Nagar 5th Street?

The registration fee for property in Manikodi Srinivasan Nagar 5th Street is calculated at 2% of the guideline value, which would be Rs 56,000 for a property valued at Rs 28,00,000.

Which Sub Registrar Office handles registrations for this area?

The Neelankarai Sub Registrar Office handles registrations for Manikodi Srinivasan Nagar 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value as per local regulations, facilitating a transparent process.