Guideline Value for Manickam Nagar Phase I

Manickam Nagar Phase I guideline value

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

How the guideline value of Manickam Nagar Phase I has changed

The guideline value for Manickam Nagar Phase I has seen several revisions over the years. In 2017, the guideline value was Rs 1,072 per sq.ft. This increased to Rs 1,600 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available 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 guideline value in this area is Rs 1,540 per sq.ft, placing Manickam Nagar Phase I above this median.

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

Stamp duty and registration fee for property in Manickam Nagar Phase I

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 cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manickam Nagar Phase I?

The Sub Registrar Office that covers Manickam Nagar Phase I 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 plays a crucial role when buying or selling property in Kunrathour-B. It is used to determine the stamp duty and registration fees required at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Manickam Nagar Phase I?

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

How much has the guideline value changed since 2017?

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

What are the stamp duty and registration fees for a property in Manickam Nagar Phase I?

For a property valued at Rs 17,60,000, the 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 registrations for Manickam Nagar Phase I?

The Kunrathur Sub Registrar Office handles registrations for Manickam Nagar Phase I. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for properties in Kunrathour-B?

The guideline value for properties in Kunrathour-B is determined by the local registration department and varies based on the area and land classification. It is essential for calculating stamp duty and registration fees during property transactions.