Guideline Value for Mani Nagar

Mani Nagar guideline value

The current guideline value of Mani Nagar, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mani Nagar has changed

The guideline value for Mani Nagar has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Mani Nagar below this median.

• Mars Nagar: Rs 2,530 per sq.ft (2024)
• Madha Town: Rs 2,860 per sq.ft (2024)
• Madha Town Extn: Rs 2,860 per sq.ft (2024)
• Madha Town Extension - I: Rs 3,850 per sq.ft (2024)
• Maansarovar Nagar: Rs 3,450 per sq.ft (2024)
• Lendi Garden: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Mani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mani Nagar?

The Sub Registrar Office that covers Mani Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kerugambakkam, the guideline value plays a crucial role in determining the registration charges. The guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially recorded and taxed appropriately.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Mani Nagar?

The current guideline value of Mani Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the median guideline value for streets in Kerugambakkam?

The median guideline value for the 144 streets in Kerugambakkam under the Pammal SRO is Rs 2,200 per sq.ft. Mani Nagar's 2024 guideline value is below this median.

What are the stamp duty and registration fees for Mani Nagar?

For a 1,000 sq.ft plot in Mani Nagar, the total guideline value is Rs 19,80,000. The stamp duty at 7% amounts to Rs 1,38,600, and the registration fee at 2% is Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Mani Nagar located?

The Sub Registrar Office for Mani Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.