Guideline Value for Maniam's mango grove

Maniam's mango grove guideline value

The current guideline value of Maniam's mango grove is Rs 5,000 per sq.ft, effective from 1 July 2024. This property is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Maniam's mango grove has changed

In the 2007 revision, the guideline value was Rs 2,100 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 114%. However, in the 2017 revision, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The guideline value then rose again to Rs 4,500 per sq.ft in the 2023 revision, which represented a 49% increase. The most recent revision, effective from 1 July 2024, set the guideline value at Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 138%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with the 2024 figures varying from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for the village is Rs 3,900 per sq.ft, placing Maniam's mango grove above this median value.

• Mariapuram Mada Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Mariyapuram Mada Koil First Street: Rs 3,300 per sq.ft (2024)
• Mount Poondamalli Road: Rs 8,300 per sq.ft (2024)
• Kuthalamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Kothandaramar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Maniam's mango grove

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maniam's mango grove?

The Sub Registrar Office that covers Maniam's mango grove is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maniam's mango grove?

The current guideline value of Maniam's mango grove is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 2,100 per sq.ft in 2007, increasing to Rs 4,500 in 2012, then decreasing to Rs 3,015 in 2017, rising to Rs 4,500 in 2023, and finally reaching Rs 5,000 in 2024.

What is the median guideline value in Nandhambakkam?

The median guideline value in Nandhambakkam is Rs 3,900 per sq.ft, with Maniam's mango grove being above this median value at Rs 5,000 per sq.ft.

What are the stamp duty and registration fees for a property in Maniam's mango grove?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.