Guideline Value for MANIMUTHARU STREET

Manimutharu Street guideline value

The current guideline value of Manimutharu Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Manimutharu Street has changed

The guideline value for Manimutharu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained the same until the 2017 revision when it decreased to Rs 1,340 per sq.ft. Following that, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,160 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2012 to 2017, there was a notable decrease of 33%, but from 2017 to 2023, the value surged by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Manimutharu Street.

• Maruthi Avenue: Rs 2,160 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 2,160 per sq.ft (2024)
• Mettu Street: Rs 2,750 per sq.ft (2024)
• Lake View Slum: Rs 2,160 per sq.ft (2024)
• Lake View Colony: Rs 2,200 per sq.ft (2024)
• Kurinji Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Manimutharu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Manimutharu Street?

The Sub Registrar Office that covers Manimutharu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher amount between the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manimutharu Street?

The current guideline value of Manimutharu Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Manimutharu Street?

Manimutharu Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Manimutharu Street?

The Sub Registrar Office for Manimutharu Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Manimutharu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at 7%.