Guideline Value for MANISH NAGAR S.NOS.345/1B1, 1B2, 1B3

Manish Nagar S.Nos.345/1b1, 1b2, 1b3 guideline value

The current guideline value for Manish Nagar S.Nos.345/1b1, 1b2, 1b3 is Rs 830 per sq.ft. This property is located in Padappai village, under the Padappai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Manish Nagar S.Nos.345/1b1, 1b2, 1b3 has changed

In the 2012 revision, the guideline value was Rs 750 per sq.ft. This figure decreased to Rs 502 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 750 per sq.ft, reflecting a 49% rise. The most recent 2024 revision set the guideline value at Rs 830 per sq.ft, which is an increase of 11% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the 2024 figure for Manish Nagar S.Nos.345/1b1, 1b2, 1b3.

• Mal Raja Avenue: Rs 3,300 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• M.P.R Nagar: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• M.R.V.Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Manish Nagar S.Nos.345/1b1, 1b2, 1b3

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees to Rs 74,700. 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 Manish Nagar S.Nos.345/1b1, 1b2, 1b3?

The Sub Registrar Office covering Manish Nagar S.Nos.345/1b1, 1b2, 1b3 is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Padappai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the duty is charged on the sale price instead, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Manish Nagar S.Nos.345/1b1, 1b2, 1b3?

The current guideline value for Manish Nagar S.Nos.345/1b1, 1b2, 1b3 is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 750 per sq.ft in 2012, decreasing to Rs 502 per sq.ft in 2017, and then rising to Rs 750 per sq.ft in 2023. The latest revision in 2024 set it at Rs 830 per sq.ft.

What is the land classification for Manish Nagar?

Manish Nagar S.Nos.345/1b1, 1b2, 1b3 is classified under Residential Class III Type - I.

What is the stamp duty rate in Padappai?

The stamp duty rate in Padappai is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Manish Nagar?

The Sub Registrar Office for Manish Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information by visiting the appropriate links.