Guideline Value

Corporate

Guideline Value for MANIMEGALAI 2ND CROSS STREET

₹1650/sq.ft.

The guideline value for Manimegalai 2nd Cross Street in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[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 Manimegalai 2nd Cross Street

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Manimegalai 2nd Cross Street guideline value

The current guideline value of Manimegalai 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Manimegalai 2nd Cross Street has changed

Looking at the historical revisions, the guideline value for Manimegalai 2nd Cross Street was Rs 1,500 per sq.ft in 2023, which was an increase from Rs 1,005 per sq.ft in 2017. The 2017 figure had decreased from Rs 1,500 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in guideline value is +10%. The increase from 2023 to 2024 is +10%, while the change from 2017 to 2023 was a significant rise of +49%. The fluctuation from 2012 to 2017 saw a decrease of -33%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value for Manimegalai 2nd Cross Street.

Stamp duty and registration fee for property in Manimegalai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manimegalai 2nd Cross Street?

The Sub Registrar Office that covers Manimegalai 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Pallikaranai, the guideline value helps establish the stamp duty and registration fees that must be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the property transaction. Ensuring that the property is valued appropriately according to the guideline value can help avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Manimegalai 2nd Cross Street?

The current guideline value of Manimegalai 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. The value was Rs 1,005 per sq.ft in 2017, showing a significant rise of 49% to 2023.

What are the registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty is calculated at 7%, which amounts to Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500.

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

The Sub Registrar Office for Manimegalai 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

The guideline value is used to determine the minimum registration value of a property, which in turn affects the stamp duty and registration fees. It is essential for both buyers and sellers to understand this value to ensure a smooth transaction process.