Guideline Value for Mani 1st Street (T.R.) / VOC Nagar

Mani 1st Street (T.R.) / VOC Nagar guideline value

The current guideline value for Mani 1st Street (T.R.) / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Mani 1st Street (T.R.) / VOC Nagar has changed

The guideline value for Mani 1st Street (T.R.) / VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003. Following this, the value rose to Rs 360 per sq.ft in 2007, marking a 71% increase from the previous year. By 2017, the value reached Rs 1,675 per sq.ft, reflecting a substantial 365% increase since 2007. The register has no figure for this street in 2012.

From 2017 to 2023, the guideline value increased to Rs 2,500 per sq.ft, a rise of 49%. The most recent revision in 2024 brought the value to Rs 2,750 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,386%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Mani 1st Street (T.R.) / VOC Nagar above this median.

• Mani 2nd Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Maniammai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Manavai Nagarathinam Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Manimegalai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Mani Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Manjan Street (K.M.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mani 1st Street (T.R.) / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mani 1st Street (T.R.) / VOC Nagar?

The Sub Registrar Office that covers Mani 1st Street (T.R.) / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Mani 1st Street (T.R.) / VOC Nagar?

The current guideline value for Mani 1st Street (T.R.) / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,386% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Mani 1st Street (T.R.) / VOC Nagar's 2024 figure above this median.

What are the stamp duty and registration fees for property in Mani 1st Street (T.R.) / VOC Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with stamp duty at 7% amounting to Rs 1,92,500 and a registration fee at 2% of Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Mani 1st Street (T.R.) / VOC Nagar?

The Pammal Sub Registrar Office handles registrations for Mani 1st Street (T.R.) / VOC Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.