Guideline Value for Manickam Nagar 1st Cross St.

Manickam Nagar 1st Cross St. guideline value

The current guideline value of Manickam Nagar 1st Cross St. is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Manickam Nagar 1st Cross St. has changed

The guideline value for Manickam Nagar 1st Cross St. has seen several revisions over the years. In 2003, the value was Rs 189 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, but it dropped to Rs 1,340 per sq.ft in 2017. The guideline value then increased significantly to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 2,160 per sq.ft. Notably, the register has no figure for this street in 2002.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 112%. However, from 2012 to 2017, there was a decrease of 33%. The value then surged by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1043%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Manickam Nagar 1st Cross St.'s 2024 figure below this median.

• Manickam Nagar 2nd Cross St.: Rs 2,160 per sq.ft (2024)
• Manickam Nagar: Rs 2,160 per sq.ft (2024)
• Manikandan Street: Rs 2,200 per sq.ft (2024)
• Manoharan Street: Rs 2,200 per sq.ft (2024)
• Marden Avenue, Ganga Nagar Ext: Rs 1,980 per sq.ft (2024)
• Marden Avenue, Sumuga Vinayagar Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar 1st Cross St.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. 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 1st Cross St.?

The Sub Registrar Office that covers Manickam Nagar 1st Cross St. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during the registration process.

When a property is sold, the guideline value or the sale price is considered to determine the applicable duties and fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Manickam Nagar 1st Cross St.?

The current guideline value of Manickam Nagar 1st Cross St. is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 189 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1043% over this period.

What are the stamp duty and registration fees for property in Manickam Nagar 1st Cross St.?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Manickam Nagar 1st Cross St., located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Manickam Nagar 1st Cross St.?

Manickam Nagar 1st Cross St. is classified as Residential Class III Type - I, indicating its designation for residential use.