Guideline Value for Mani Nagar

Mani Nagar guideline value

The current guideline value of Mani Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Special 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 register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 6,500 per sq.ft, which increased to Rs 7,100 per sq.ft in the 2024 revision, marking a change of +9%.

With the 2024 revision, the current guideline value aligns with the median value of Rs 7,100 per sq.ft for the 73 streets in 1. Nolambur under the Villivakkam SRO. This reflects the ongoing adjustments in property values in the area.

Guideline values in 1. Nolambur

In 1. Nolambur, the guideline values for various streets range from Rs 3,300 to Rs 8,800 per sq.ft, with the median being Rs 7,100 per sq.ft. Mani Nagar's 2024 figure is equal to this median. Below are the guideline values for other streets in 1. Nolambur:

• M.C.K. Layout: Rs 5,500 per sq.ft (2024)
• Madha Koil Street 1 to 8: Rs 5,500 per sq.ft (2024)
• Madha Koil Street: Rs 5,500 per sq.ft (2024)
• Mogappair West Garden: Rs 7,100 per sq.ft (2024)
• Moon Enclave: Rs 7,100 per sq.ft (2024)
• Kgeyes Apoorvaa: Rs 7,100 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor when buying or selling property in 1. Nolambur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the registration fee and stamp duty 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 in the area.

Frequently asked questions

What is the current guideline value of Mani Nagar?

The current guideline value of Mani Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mani Nagar has changed from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024, reflecting a +9% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in 1. Nolambur?

In 1. Nolambur, other streets have guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft.

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

For a 1,000 sq.ft plot in Mani Nagar, the total guideline value would be Rs 71,00,000. The stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Mani Nagar?

The Villivakkam Sub Registrar Office covers Mani Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all property registrations in the area.