Guideline Value for Manickam Nagar

Manickam Nagar guideline value

The current guideline value of Manickam Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - III land classification.

How the guideline value of Manickam Nagar has changed

The guideline value of Manickam Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 94 per sq.ft. This increased to Rs 125 per sq.ft in 2003, marking a 33% rise. The value continued to rise, reaching Rs 200 per sq.ft in 2007, which was a substantial increase of 60%. The 2012 revision saw the value remain at Rs 1,300 per sq.ft, but then it dropped to Rs 871 per sq.ft in 2017, a decrease of 33%.

Following this, the guideline value increased to Rs 1,300 per sq.ft in 2023, and further to Rs 1,400 per sq.ft in the 2024 revision, reflecting an 8% increase. Overall, from 2002 to 2024, the guideline value has risen by 1389%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Manickam Nagar's 2024 figure below that median.

• Manickavasagar Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Manikanda Nagar: Rs 990 per sq.ft (2024)
• Manikandan Avenue: Rs 1,900 per sq.ft (2024)
• Manikandan Street: Rs 1,900 per sq.ft (2024)
• Manikanda Puram: Rs 2,400 per sq.ft (2024)
• Manikandapuram 1st Left St.: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

The current guideline value of Manickam Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, showing a significant increase over the years, with various revisions affecting the value.

What is the land classification for Manickam Nagar?

Manickam Nagar falls under the Residential Class III Type - III land classification.

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

The Sub Registrar Office for Manickam Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Manickam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,400 per sq.ft would incur a total stamp duty and registration fee of Rs 1,26,000.