Guideline Value for Manavai Nagarathinam Street / Gokulam Colony

Manavai Nagarathinam Street / Gokulam Colony guideline value

The current guideline value for Manavai Nagarathinam Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Manavai Nagarathinam Street / Gokulam Colony has changed

The guideline value has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 200 per sq.ft. In 2003, it increased to Rs 226 per sq.ft, marking a 13% rise. The 2007 revision brought a substantial jump to Rs 360 per sq.ft, which is a 59% increase from the previous year. The value further escalated to Rs 1,675 per sq.ft in 2017, reflecting a remarkable 365% increase. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from 2017. Finally, the current 2024 revision has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,275%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Manavai Nagarathinam Street / Gokulam Colony's 2024 figure above that median.

• Mani 1st Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Mani 2nd Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Maniammai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Manimegalai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Mani Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Manjan Street (K.M.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Manavai Nagarathinam Street / Gokulam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Manavai Nagarathinam Street / Gokulam Colony?

The Sub Registrar Office that covers Manavai Nagarathinam Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the applicable charges. If the sale price of the property is higher than the guideline value, the stamp duty and registration fees will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Manavai Nagarathinam Street / Gokulam Colony?

The current guideline value of Manavai Nagarathinam Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,275%.

What is the land classification for this street?

Manavai Nagarathinam Street / Gokulam Colony is classified as Commercial Class I Type - II.

Where can I find the registration office for this area?

The registration office for Manavai Nagarathinam Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for property transactions?

Stamp duty is charged on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.