Guideline Value for Manickam Nagar 2nd Street

Manickam Nagar 2nd Street guideline value

The current guideline value of Manickam Nagar 2nd 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 2nd Street has changed

In the 2017 revision, the guideline value was Rs 1,072 per sq.ft. This figure increased significantly to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 1,760 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

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 guideline value in this area is Rs 1,540 per sq.ft, making the 2024 figure for Manickam Nagar 2nd Street above the median.

• Manickam Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and 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 and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Nagar 2nd Street?

The Sub Registrar Office that covers Manickam Nagar 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Kunrathour-B, as it determines the minimum value at which properties are registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manickam Nagar 2nd Street?

The current guideline value of Manickam Nagar 2nd Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the 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, reflecting a total increase of 64% over this period.

What are the other streets with the same guideline value in Kunrathour-B?

Other streets in Kunrathour-B with the same guideline value of Rs 1,760 per sq.ft in 2024 include Manickam Nagar 1st Street, 3rd Street, 4th Street, 5th Street, and Manickam Nagar Phase I.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Manickam Nagar 2nd Street?

Stamp duty for properties in Manickam Nagar 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.