Guideline Value for MINITOWN MANNIVAKKAM

Minitown Mannivakkam guideline value

The current guideline value of Minitown Mannivakkam is Rs 3,450 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village under the Gooduvancheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Minitown Mannivakkam has changed

The guideline value for Minitown Mannivakkam has seen significant changes over the years. The 2017 revision set the value at Rs 2,100 per sq.ft, which increased to Rs 3,135 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has brought the value to Rs 3,450 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing Minitown Mannivakkam's 2024 guideline value above this median.

• M.G.R. Street: Rs 990 per sq.ft (2024)
• Mudichur Road: Rs 2,750 per sq.ft (2024)
• Masuthi Theru: Rs 990 per sq.ft (2024)
• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)
• Masuthi Main Road: Rs 990 per sq.ft (2024)
• Manneeshwarar Nagar Extn: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Minitown Mannivakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,450 per sq.ft, the total guideline value amounts to Rs 34,50,000. The stamp duty at 7% would be Rs 2,41,500, and the registration fee at 2% would be Rs 69,000, bringing the total to Rs 3,10,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Minitown Mannivakkam?

The Sub Registrar Office that covers Minitown Mannivakkam 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 helps determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value serves as a reference point to ensure that the transaction is recorded at a fair value, thus protecting both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Minitown Mannivakkam?

The current guideline value of Minitown Mannivakkam is Rs 3,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2017 to Rs 3,135 per sq.ft in 2023, and now to Rs 3,450 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Minitown Mannivakkam?

Minitown Mannivakkam is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the registration office for Minitown Mannivakkam?

The registration office for Minitown Mannivakkam is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Minitown Mannivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 34,50,000, the stamp duty would be Rs 2,41,500 at a rate of 7%.