Guideline Value for MANOGAR NAGAR 7TH STREE

Manogar Nagar 7th Stree guideline value

The current guideline value of Manogar Nagar 7th Stree is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Manogar Nagar 7th Stree has changed

Looking at the revisions over the years, the guideline value for Manogar Nagar 7th Stree has seen several changes. In 2012, the value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. The value then rose significantly to Rs 2,200 per sq.ft in 2023, and further increased to Rs 2,420 per sq.ft in 2024, reflecting a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 2,200 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the 2024 guideline value of Manogar Nagar 7th Stree above this median.

• Manogar Nagar Extn.: Rs 2,420 per sq.ft (2024)
• Manohar Nagar: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 10th Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 11th Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 17th Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 18th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Manogar Nagar 7th Stree

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty, calculated at 7%, would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manogar Nagar 7th Stree?

Manogar Nagar 7th Stree is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value, as this will affect the overall cost of the transaction. The guideline value serves as a benchmark for property valuation, influencing the financial aspects of buying or selling real estate in the area.

Frequently asked questions

What is the current guideline value of Manogar Nagar 7th Stree?

The current guideline value of Manogar Nagar 7th Stree is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Manogar Nagar 7th Stree?

For a 1,000 sq.ft plot, the total guideline value is Rs 24,20,000. The stamp duty at 7% is Rs 1,69,400, and the registration fee at 2% is Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers Manogar Nagar 7th Stree?

The Chennai South Joint I Sub Registrar Office covers Manogar Nagar 7th Stree, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Manogar Nagar 7th Stree?

The land classification of Manogar Nagar 7th Stree is Residential Class I Type - I.