Guideline Value for Manavalan Nagar

Manavalan Nagar guideline value

The current guideline value of Manavalan Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Manavalan Nagar has changed

The guideline value for Manavalan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which then increased to Rs 800 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 880 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023 represents a significant change of 49%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the current guideline value of Manavalan Nagar.

• Mangalam Nagar: Rs 1,430 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Marutham Royal Gardens: Rs 1,840 per sq.ft (2024)
• Mada Veethi ( East, West, North and South ): Rs 880 per sq.ft (2024)
• Meenambal Street: Rs 550 per sq.ft (2024)
• Lenin Nagar Phase I: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Manavalan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manavalan Nagar?

The Sub Registrar Office that covers Manavalan 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 Manimangalam A

The guideline value is a critical factor when registering property in Manavalan Nagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the government. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Manavalan Nagar?

The current guideline value of Manavalan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, representing a total increase of 64% over the years.

What is the land classification of Manavalan Nagar?

Manavalan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Manavalan Nagar?

The registration office for Manavalan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Manavalan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.