Guideline Value for Manavala Nagar

Manavala Nagar guideline value

The current guideline value for Manavala Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vellarai village, under the Sriperumpudur SRO, and is classified as Residential Special Type - III.

How the guideline value of Manavala Nagar has changed

The guideline value for Manavala Nagar has undergone several revisions over the years. The 2007 revision recorded a value of Rs 60 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 134 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 200 per sq.ft, and the same value continues in the 2024 revision, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. The revisions for the years 2002 and 2003 have no figures available for this street in the register.

Guideline values in Vellarai

In Vellarai village, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Manavala Nagar is below this median.

• Manimozhi Nagar: Rs 200 per sq.ft (2024)
• Madhurai Veeran Street: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 110 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Galaxy Nagar: Rs 300 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these fees Rs 18,000. 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 more details.

Which Sub Registrar Office covers Manavala Nagar?

The Sub Registrar Office that covers Manavala Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vellarai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair price, reflecting the official values set by the government. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Manavala Nagar?

The current guideline value of Manavala Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase occurring from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, followed by a decrease to Rs 134 per sq.ft in 2017. The value remained at Rs 200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Manavala Nagar?

Manavala Nagar is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where is the Sub Registrar Office for Manavala Nagar located?

The Sub Registrar Office covering Manavala Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Manavala Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.