Guideline Value for Mani Nagar

Mani Nagar guideline value

The current guideline value of Mani Nagar, located in Periyapanancheri village under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mani Nagar has changed

The guideline value for Mani Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023 and an overall increase of 64% from 2017 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value prior to 2017 are not available for reference.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is the same as the current value for Mani Nagar.

• Kundrathur Main Road (ward 3): Rs 2,200 per sq.ft (2024)
• Kundrathur Main Road (ward 2): Rs 2,200 per sq.ft (2024)
• Kundrathur Main Road: Rs 4,925 per sq.ft (2024)
• Karunakaran Street: Rs 1,320 per sq.ft (2024)
• N.S.K.Street: Rs 990 per sq.ft (2024)
• Kannamal Street: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 Periyapanancheri

The guideline value is a crucial factor during the registration of property transactions in Periyapanancheri. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the financial obligations involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mani Nagar?

The current guideline value of Mani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 64% over this period.

What are the other guideline values in Periyapanancheri?

In Periyapanancheri, other streets have guideline values ranging from Rs 990 to Rs 4,925 per sq.ft, with a median value of Rs 1,320 per sq.ft.

What fees are involved in property registration in Mani Nagar?

For a property in Mani Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Mani Nagar?

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