Guideline Value for MANIMEKALAI GARDEN

Manimekalai Garden guideline value

The current guideline value of Manimekalai Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Manimekalai Garden has changed

The guideline value for Manimekalai Garden has seen several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent 2024 revision set it at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Manimekalai Garden's current guideline value is below this median.

• Manthoppu Garden: Rs 2,200 per sq.ft (2024)
• Manthoppu Salai: Rs 3,300 per sq.ft (2024)
• Manickam Garden: Rs 1,100 per sq.ft (2024)
• Mandaveli Thidal: Rs 2,200 per sq.ft (2024)
• Manavalan Garden: Rs 1,100 per sq.ft (2024)
• Malleswari Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manimekalai Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manimekalai Garden?

The Sub Registrar Office that covers Manimekalai Garden 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 Uthandi

The guideline value is a crucial factor when registering property transactions in Uthandi. It determines the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manimekalai Garden?

The current guideline value of Manimekalai Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Manimekalai Garden?

Manimekalai Garden is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees can amount to Rs 99,000.