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

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

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

The guideline value for Mani Street (T.R.) / VOC Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 185 per sq.ft. This increased to Rs 210 per sq.ft in 2003, marking a change of 14%. By 2007, the value rose significantly to Rs 360 per sq.ft, reflecting a 71% increase. The 2017 revision saw a substantial jump to Rs 1,675 per sq.ft, a remarkable 365% change from the previous value. In 2023, the guideline value was Rs 2,500 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure recorded for this street in the 2012 revision.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Mani Street (T.R.) / VOC Nagar above this median.

• Manjan Street (K.M.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Manimegalai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Ma.Po.Si Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Mapupi Street, Sri Saraswathi Muthupandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Maniammai Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Mani 2nd Street (T.R.) / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Mani 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, bringing the total fees together 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.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Mani Street (T.R.) / VOC 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 Pammal

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees.

When a property is registered, the higher of the guideline value or the sale price is considered for the calculation of these fees. This ensures that the state receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1386% over the years.

What is the land classification for Mani Street (T.R.) / VOC Nagar?

Mani Street (T.R.) / VOC Nagar is classified as Commercial Class I Type - II.

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

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 Street (T.R.) / VOC Nagar?

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