Guideline Value for Manickam Nagar (Ward-1)

Manickam Nagar (Ward-1) guideline value

The current guideline value for Manickam Nagar (Ward-1) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Manickam Nagar (Ward-1) has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. With the 2024 revision, this value has increased to Rs 1,300 per sq.ft, marking a significant change of +62% over this period. The register does not contain figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded revisions for Manickam Nagar (Ward-1) are from 2017 to 2024, with no figures available for earlier years. The increase reflects the updated valuation in the current real estate landscape.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, indicating that Manickam Nagar's current value is below this median.

• Manickam st ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Manjambakkam Road: Rs 1,300 per sq.ft (2024)
• Manjambakkam to Assisi Nagar Road ( Ward No.6 ): Rs 1,300 per sq.ft (2024)
• Maneesh Avenue: Rs 2,500 per sq.ft (2024)
• Mannadi St ( Ward No.5 ): Rs 1,300 per sq.ft (2024)
• Mandaveli Main Road ( Ward No.7 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar (Ward-1)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Manickam Nagar (Ward-1)?

The Sub Registrar Office that covers Manickam Nagar (Ward-1) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property in Madhavaram, the guideline value serves as a benchmark for the transaction price, ensuring compliance with local regulations.

During the registration process, the buyer and seller must adhere to the guideline value set by the authorities, which is regularly updated to reflect market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Manickam Nagar (Ward-1)?

The current guideline value of Manickam Nagar (Ward-1) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft, which is a change of +62%.

Are there any revisions for Manickam Nagar (Ward-1) prior to 2017?

The register does not contain figures for Manickam Nagar (Ward-1) for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of Manickam Nagar (Ward-1).

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations in the area.