Guideline Value for Manavala Nagar

Manavala Nagar guideline value

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

How the guideline value of Manavala Nagar has changed

Over the years, the guideline value of Manavala Nagar has seen significant changes. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 700% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. The subsequent revisions saw an increase to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year and a substantial 49% increase from 2017.

It is important to note that there are no figures available in the register 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 that carry a 2024 guideline value 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 for 2024.

• Manavala Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Manavala Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Annex: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Extn: Rs 2,200 per sq.ft (2024)
• Manavala Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Maha Shakthi Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manavala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manavala Nagar?

The Sub Registrar Office that covers Manavala Nagar 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 online.

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

The guideline value plays a crucial role in property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that must be paid during the buying or selling process. When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected based on the property's value.

Additionally, the guideline value helps in providing transparency in property transactions, ensuring that buyers and sellers are aware of the official valuation of the property. This can help in avoiding disputes and ensuring a smoother transaction process.

Frequently asked questions

What is the current guideline value of Manavala Nagar?

The current guideline value of Manavala Nagar 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 significantly, increasing from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 780% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Manavala Nagar?

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

Where can I find more information about guideline values in Chembakkam?

More information about guideline values in Chembakkam can be found on the Registration Department's guideline value register (TNReginet).