Guideline Value for Manickam Nagar

Manickam Nagar guideline value

The current guideline value of Manickam Nagar 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 has changed

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

Overall, from the 2017 revision to the current 2024 figure, there has been a substantial increase of 64%. It is important to note that the register has no figures 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 with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, making the current value of Manickam Nagar above this median.

• Manickam Nagar 1st Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar Phase I: Rs 1,760 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 1,760 per sq.ft, the total guideline value is Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that 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?

The Sub Registrar Office that covers Manickam Nagar 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 is a crucial factor in the registration process of property transactions in Kunrathour-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is aligned with the prevailing market conditions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Manickam Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, which is a total increase of 64% over these years.

What are the other streets in Kunrathour-B with the same guideline value?

Other streets in Kunrathour-B, such as Manickam Nagar 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and Phase I, all have a guideline value of Rs 1,760 per sq.ft for 2024.

What is the stamp duty for property in Manickam Nagar?

The stamp duty for property in Manickam Nagar is calculated at 7% of the guideline value. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200.

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

The Sub Registrar Office for Manickam Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it online.