Guideline Value for Mani 2nd Street (T.R.) / VOC Nagar

Mani 2nd Street (T.R.) / VOC Nagar guideline value

The current guideline value of Mani 2nd 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 2nd Street (T.R.) / VOC Nagar has changed

The guideline value for Mani 2nd Street (T.R.) / VOC Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The value further rose to Rs 360 per sq.ft in 2007, reflecting a 71% increase from the previous revision. The 2012 revision does not have a figure for this street.

From 2007 to 2017, the value surged to Rs 1,675 per sq.ft, indicating a remarkable 365% increase. The following revision in 2023 set the value at Rs 2,500 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has brought the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1386%.

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 per the 2024 revision. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Mani 2nd Street (T.R.) / VOC Nagar above this median.

• Mani 1st 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 2nd 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 would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further assistance, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mani 2nd Street (T.R.) / VOC Nagar?

The Sub Registrar Office that covers Mani 2nd Street (T.R.) / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to ensure that the transaction reflects the accurate guideline value as per the latest revisions. This ensures compliance with local regulations and avoids potential legal issues during the property transfer process.

Frequently asked questions

What is the current guideline value of Mani 2nd Street (T.R.) / VOC Nagar?

The current guideline value of Mani 2nd 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 1386% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft as per the 2024 revision, with Mani 2nd Street (T.R.) / VOC Nagar positioned above this median.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Mani 2nd Street (T.R.) / VOC Nagar?

The registration for Mani 2nd Street (T.R.) / VOC Nagar is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.