Guideline Value for Manickam Nagar

Manickam Nagar guideline value

The current guideline value of Manickam Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Manickam Nagar has changed

The guideline value for Manickam Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

To summarize the changes, from 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 250%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which aligns with the guideline value of Manickam Nagar.

• Madras Garden: Rs 500 per sq.ft (2024)
• Lss Vijay Avenue: Rs 800 per sq.ft (2024)
• L.S.S. Anandham Avenue: Rs 500 per sq.ft (2024)
• Lavakusa Nagar: Rs 500 per sq.ft (2024)
• Lakshmi Puram: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Please 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?

The Sub Registrar Office that covers Manickam Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Perumattu Nellore

The guideline value is a crucial factor during property registration in Perumattu Nellore. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers must be aware of these values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

The current guideline value of Manickam Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and remained at Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Manickam Nagar?

Manickam Nagar is classified as Residential Special Type - II, which indicates its zoning for residential purposes.

What are the stamp duty and registration fees for properties in Manickam Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 63,000.

Which office handles registrations for Manickam Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Manickam Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.