Guideline Value for Manickam Nagar 1st Street

Manickam Nagar 1st Street guideline value

The current guideline value of Manickam Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, classified as Mixed Special Type - III.

How the guideline value of Manickam Nagar 1st Street has changed

The guideline value for Manickam Nagar 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision. The most recent 2024 revision has further increased the guideline value to Rs 1,760 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing the 2024 figure for Manickam Nagar 1st Street above this median.

• Manickam Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar: Rs 1,760 per sq.ft (2024)
• Manickam Nagar Phase I: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Manickam Nagar 1st Street?

The Sub Registrar Office that covers Manickam Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is an important factor in the registration process of property transactions in Kunrathour-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Manickam Nagar 1st Street?

The current guideline value of Manickam Nagar 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for a property in Manickam Nagar 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Manickam Nagar 1st Street?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Manickam Nagar 1st Street.

What is the land classification for Manickam Nagar 1st Street?

Manickam Nagar 1st Street is classified as Mixed Special Type - III, which is relevant for understanding its zoning and usage regulations.