Guideline Value for Manasa Devi Nagar

Manasa Devi Nagar guideline value

The current guideline value of Manasa Devi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification is Residential Class II Type - I.

How the guideline value of Manasa Devi Nagar has changed

The guideline value for Manasa Devi Nagar has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 100 per sq.ft. This increased to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017. The 2023 revision maintained the value at Rs 250 per sq.ft, and the current 2024 revision also keeps it at Rs 250 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 150%. However, it saw a decrease of 33% from 2012 to 2017. The value then increased by 50% from 2017 to 2023, and has remained stable from 2023 to 2024, showing no change. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, making the 2024 figure for Manasa Devi Nagar equal to this median.

• Marshal Share: Rs 300 per sq.ft (2024)
• Marthamman Koil Street: Rs 210 per sq.ft (2024)
• Madha Koil Street: Rs 210 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 210 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Manasa Devi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 Manasa Devi Nagar?

The Sub Registrar Office that covers Manasa Devi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Nemili. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Manasa Devi Nagar?

The current guideline value of Manasa Devi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007, reaching Rs 250 in 2012, decreasing to Rs 167 in 2017, and returning to Rs 250 in both 2023 and 2024.

What is the median guideline value in Nemili?

The median guideline value for the streets in Nemili is Rs 250 per sq.ft, which is the same as the current guideline value for Manasa Devi Nagar.

What are the stamp duty and registration fees for a property in Manasa Devi Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registration for Manasa Devi Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for Manasa Devi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.