Guideline Value for Manickam Nagar 2nd Cross St.

Manickam Nagar 2nd Cross St. guideline value

The current guideline value for Manickam Nagar 2nd Cross St. is Rs 2,160 per sq.ft. This street is located in Kilkattalai village under the Pallavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Manickam Nagar 2nd Cross St. has changed

The guideline value for Manickam Nagar 2nd Cross St. has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 189 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,160 per sq.ft.

Between the revisions, the changes were as follows: from 2003 to 2007, there was an increase of 112%; from 2007 to 2012, the value rose by 400%; however, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. It is important to note that the register has no figure for this street in 2002.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, making the current guideline value of Manickam Nagar 2nd Cross St. below that median.

• Manickam Nagar 1st 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 2nd 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, while the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration would be 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Nagar 2nd Cross St.?

The Sub Registrar Office that covers Manickam Nagar 2nd 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately in the official register.

When registering a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Manickam Nagar 2nd Cross St.?

The current guideline value for Manickam Nagar 2nd 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, with various increases and decreases along the way.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for streets in Kilkattalai is Rs 2,530 per sq.ft for the year 2024, with Manickam Nagar 2nd Cross St. being below this median.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office located for this street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.