Guideline Value for Manickam Nagar Extn

Manickam Nagar Extn guideline value

The current guideline value for Manickam Nagar Extn in Agraharam Vada village is Rs 880 per sq.ft, effective from 1 July 2024. This property falls under the Poonamallee SRO and is classified as Residential Special Type - I.

How the guideline value of Manickam Nagar Extn has changed

The guideline value for Manickam Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision raised it further to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a 19% increase. However, the overall change from the 2012 revision to the 2024 revision shows a decrease of 12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agraharam Vada

In Agraharam Vada, there are 17 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 660 to Rs 1,650 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is the same as the 2024 figure for Manickam Nagar Extn.

• Manickam Nagar: Rs 880 per sq.ft (2024)
• L.K.B Nagar: Rs 880 per sq.ft (2024)
• Lakshmipuram: Rs 880 per sq.ft (2024)
• M.S.Nagar: Rs 1,650 per sq.ft (2024)
• Ms Nagar 47/2a: Rs 1,100 per sq.ft (2024)
• M.S.V Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manickam Nagar Extn?

The Sub Registrar Office that covers Manickam Nagar Extn is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Agraharam Vada. It serves as the benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to note that the stamp duty is calculated based on the higher of the guideline value or the sale price, which protects the interests of the state in property transactions.

Frequently asked questions

What is the current guideline value of Manickam Nagar Extn?

The current guideline value of Manickam Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Manickam Nagar Extn?

Manickam Nagar Extn is classified as Residential Special Type - I, which is relevant for determining its guideline value.

How is stamp duty calculated for properties in Manickam Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.

Which office handles property registrations in Manickam Nagar Extn?

The Poonamallee Sub Registrar Office handles property registrations for Manickam Nagar Extn, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.