Guideline Value for MANJULA NAGAR

Manjula Nagar guideline value

The current guideline value of Manjula Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Manjula Nagar has changed

The guideline value for Manjula Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, representing a 300% increase. However, the value dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 400 per sq.ft, and the latest revision in 2024 raised it to Rs 440 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 340%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 330 to Rs 550 per sq.ft in 2024. The median guideline value for the village is Rs 485 per sq.ft, placing Manjula Nagar's 2024 figure below this median.

• Meenakshi Nagar: Rs 330 per sq.ft (2024)
• Lakshmi Nagar/Ext: Rs 330 per sq.ft (2024)
• Lakshmi Nagar All Phase: Rs 330 per sq.ft (2024)
• Muthaalamman Nagar: Rs 330 per sq.ft (2024)
• Muthulakshmi Nagar: Rs 330 per sq.ft (2024)
• Kolaviziamman Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Manjula Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of Rs 39,600. It is important to note that 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 details.

Which Sub Registrar Office covers Manjula Nagar?

The Sub Registrar Office that covers Manjula Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vichoor, as it determines the baseline for stamp duty and registration fees. This value is set by the government and is used to assess the worth of the property for taxation purposes during registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair price. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Manjula Nagar?

The current guideline value of Manjula Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and an increase in 2024.

What is the median guideline value in Vichoor?

The median guideline value in Vichoor is Rs 485 per sq.ft, which is higher than the current value of Manjula Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Which office handles the registration for Manjula Nagar?

The registration for Manjula Nagar is handled by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.