Guideline Value for Manickam Nagar

Manickam Nagar guideline value

The current guideline value of Manickam Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Manickam Nagar has changed

Over the years, the guideline value of Manickam Nagar has seen several revisions. The earliest recorded value was Rs 189 per sq.ft in 2003, which increased to Rs 400 per sq.ft in 2007, marking a significant rise of 112%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, it then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,160 per sq.ft from the 2024 revision, representing an 8% increase from the previous year. The register has no figure for this street for the year 2002.

From 2003 to 2024, the overall increase in the guideline value is 1043%. The comparison of revisions shows a substantial fluctuation in the guideline value over the years, with the most recent revision indicating a positive trend from 2023 to 2024.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Manickam Nagar's 2024 figure below that median.

• Manickam Nagar 1st Cross St.: Rs 2,160 per sq.ft (2024)
• Manickam Nagar 2nd Cross St.: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total charges to Rs 1,94,400. Please note that the 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?

The Sub Registrar Office that covers Manickam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 is a crucial factor in property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that properties are not undervalued during the registration process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

The current guideline value of Manickam Nagar 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, showing an overall increase of 1043% over these years.

What is the land classification of Manickam Nagar?

Manickam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Manickam Nagar?

The stamp duty rate applicable in Manickam Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manickam Nagar?

The Sub Registrar Office for Manickam Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.