Guideline Value for Manavala Nagar Main Road

Manavala Nagar Main Road guideline value

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

How the guideline value of Manavala Nagar Main Road has changed

Over the years, the guideline value for Manavala Nagar Main Road has seen significant revisions. The earliest recorded value was Rs 250 per sq.ft in 2007, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 700% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with 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 equal to the guideline value of Manavala Nagar Main Road.

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

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manavala Nagar Main Road?

The Sub Registrar Office that covers Manavala Nagar Main Road 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 plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manavala Nagar Main Road?

The current guideline value of Manavala Nagar Main Road 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 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 780% over the years.

What are the stamp duty rates for properties in Manavala Nagar Main Road?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Manavala Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives appropriate revenue based on the higher of the guideline value or the sale price.