Guideline Value for Manickam Avenue

Manickam Avenue guideline value

The current guideline value of Manickam Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Manickam Avenue has changed

In the 2007 revision, the guideline value was Rs 200 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 4,000 per sq.ft, reflecting a change of +1900%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, indicating a decline of -33%. The 2017 revision brought the value back up to Rs 4,000 per sq.ft in 2023, a change of +49%. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, marking a +10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Manickam Avenue is above this median.

• Manickam Street: Rs 850 per sq.ft (2024)
• Manickavasakar Street: Rs 1,100 per sq.ft (2024)
• Mangaiyarkarasi Street: Rs 2,400 per sq.ft (2024)
• Manimekalai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Avenue?

The Sub Registrar Office that covers Manickam Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the higher of the guideline value or the sale price is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Manickam Avenue?

The current guideline value of Manickam Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 200 per sq.ft in 2007, rising to Rs 4,000 in 2012, then dropping to Rs 2,680 in 2017, and increasing again to Rs 4,000 in 2023, finally reaching Rs 4,400 in 2024.

What is the land classification for Manickam Avenue?

Manickam Avenue is classified as Commercial Class I Type - I, which indicates its intended use for commercial purposes.

What are the stamp duty and registration fees for a property in Manickam Avenue?

For a 1,000 sq.ft property, the guideline value is Rs 44,00,000. The stamp duty is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Manickam Avenue located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.