Guideline Value for Manali Saravana Nagar Ist Street

Manali Saravana Nagar Ist Street guideline value

The current guideline value of Manali Saravana Nagar Ist Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Manali Saravana Nagar Ist Street has changed

The guideline value for Manali Saravana Nagar Ist Street has seen significant changes over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, which is 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 in the register.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, and the guideline value for Manali Saravana Nagar Ist Street is above this median.

• Manali Saravana Nagar IInd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar IIIrd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar: Rs 2,200 per sq.ft (2024)
• Manali Ramakrishna Avenue: Rs 2,200 per sq.ft (2024)
• Mangadu Main Road: Rs 1,980 per sq.ft (2024)
• Mangalapuram: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Manali Saravana Nagar Ist Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manali Saravana Nagar Ist Street?

The Sub Registrar Office that covers Manali Saravana Nagar Ist Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Manali Saravana Nagar Ist Street?

The current guideline value of Manali Saravana Nagar Ist Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64% over these years.

What is the land classification for Manali Saravana Nagar Ist Street?

Manali Saravana Nagar Ist Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Manali Saravana Nagar Ist Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.