Guideline Value for Manavala Nagar

Manavala Nagar guideline value

The current guideline value of Manavala Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024. This locality is situated in Perungalathur village under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Manavala Nagar has changed

Over the years, the guideline value of Manavala Nagar has undergone several revisions. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This value experienced a significant increase to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, it then decreased to Rs 1,407 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 2,100 per sq.ft in 2023, which was a 49% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,310 per sq.ft, indicating a 10% increase from 2023.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the 2024 figure for Manavala Nagar.

• Manaliramakishna Nagar: Rs 1,650 per sq.ft (2024)
• Mamallan Theru: Rs 2,310 per sq.ft (2024)
• Manikkavasakar Street: Rs 1,650 per sq.ft (2024)
• Manimegalai Street: Rs 2,310 per sq.ft (2024)
• Mahalaxmi Nagar: Rs 2,640 per sq.ft (2024)
• Manju Garden: Rs 1,650 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200. Together, the total cost for stamp duty and registration would be Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This helps in maintaining transparency and fairness in property transactions, as these fees are based on the established guideline value rather than arbitrary figures.

Frequently asked questions

What is the current guideline value of Manavala Nagar?

The current guideline value of Manavala Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, representing an overall increase of 824%.

What are the stamp duty rates for property in Manavala Nagar?

The stamp duty rate for property transactions in Manavala Nagar is 7%, calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Manavala Nagar located?

The Padappai Sub Registrar Office, which covers Manavala Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Manavala Nagar?

The land classification for Manavala Nagar is Residential Class II Type - I, indicating its suitability for residential development.