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 locality is situated in Nemili_B village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Manasa Devi Nagar has changed

The guideline value for Manasa Devi Nagar has seen several revisions over the years. In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, which also stood at Rs 250 per sq.ft. The most recent revision in 2024 has kept the guideline value at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figure for this street in the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, there has been a 50% increase in the guideline value. The consistency in the 2023 and 2024 revisions suggests stability in the valuation for this locality.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with the median value being Rs 250 per sq.ft. The guideline value of Manasa Devi Nagar is equal to this median.

• Marshal Share: Rs 300 per sq.ft (2024)
• Marthamman Koil Street: Rs 200 per sq.ft (2024)
• Madhuramman Koil Street: Rs 150 per sq.ft (2024)
• Madhuramman Koil Cross Street: Rs 150 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Lucky Land: 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 guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty, charged at 7%, would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000. Together, these fees would total Rs 22,500. 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 details.

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. For further information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nemili_B, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently. It is essential for buyers to understand this value to avoid any unexpected costs during the registration of their property.

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 remained at Rs 250 per sq.ft from 2023 to 2024, and it increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, marking a 50% increase over that period.

What is the land classification for Manasa Devi Nagar?

Manasa Devi Nagar is classified as Residential Class II Type - I. This classification is important for determining the types of developments allowed in the area.

What are the stamp duty rates applicable in Manasa Devi Nagar?

The stamp duty rate in Manasa Devi Nagar is 7%, while the registration fee is 2%. These rates are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manasa Devi Nagar?

The Sub Registrar Office for Manasa Devi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all property registrations for the area.