Guideline Value for Manavala Nagar Annex

Manavala Nagar Annex guideline value

The current guideline value of Manavala Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Manavala Nagar Annex has changed

The guideline value for Manavala Nagar Annex has seen several revisions over the years. The earliest recorded figure is from 2012 at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in the 2024 revision.

Between the revisions, the changes in guideline value are significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Manavala Nagar Annex.

• Manavala Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Extn: Rs 2,200 per sq.ft (2024)
• Manavala Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Manavala Nagar: Rs 2,200 per sq.ft (2024)
• Mariamman Koil Cross Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manavala Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty 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 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 Manavala Nagar Annex?

The Sub Registrar Office that covers Manavala Nagar Annex is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor in property transactions in Chembakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must be aware that the guideline value can influence the overall cost of the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Manavala Nagar Annex?

The current guideline value of Manavala Nagar Annex 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Manavala Nagar Annex?

Manavala Nagar Annex is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Manavala Nagar Annex?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a total fee of Rs 1,98,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.