Guideline Value for MANNEESHWARAR AVENUE

Manneeshwarar Avenue guideline value

The current guideline value of Manneeshwarar Avenue, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Manneeshwarar Avenue has changed

The guideline value of Manneeshwarar Avenue has seen several revisions over the years. The earliest recorded figure is from 2017, where the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Manneeshwarar Avenue in the register.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Manneeshwarar Avenue's 2024 figure above this median.

• Manneeshwarar Nagar: Rs 1,320 per sq.ft (2024)
• Manneeshwarar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Malles Fortune Earth: Rs 4,110 per sq.ft (2024)
• Masuthi Main Road: Rs 990 per sq.ft (2024)
• Masuthi Theru: Rs 990 per sq.ft (2024)
• Loganathan Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manneeshwarar Avenue

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 amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,48,500. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Manneeshwarar Avenue?

The Sub Registrar Office that covers Manneeshwarar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manneeshwarar Avenue?

The current guideline value of Manneeshwarar Avenue is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024. This represents an overall increase of 64% over this period.

What is the land classification for Manneeshwarar Avenue?

Manneeshwarar Avenue falls under the Commercial Class I Type - II land classification. This classification can influence the types of developments allowed in the area.

Where can I find the Sub Registrar Office for Manneeshwarar Avenue?

The Gooduvancheri Sub Registrar Office covers Manneeshwarar Avenue and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Manneeshwarar Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.