Guideline Value for Manickam Nagar

Manickam Nagar guideline value

The current guideline value of Manickam Nagar, located in Agraharam Vada village under the Poonamallee SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Manickam Nagar has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased to Rs 800 per sq.ft in the 2023 revision, reflecting a rise of 19%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has decreased by 12%.

Guideline values in Agraharam Vada

Agraharam Vada village has 17 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 1,650 per sq.ft, with a median value of Rs 880 per sq.ft. Manickam Nagar's 2024 guideline value is equal to this median.

• Manickam Nagar Extn: Rs 880 per sq.ft (2024)
• L.K.B Nagar: Rs 880 per sq.ft (2024)
• Lakshmipuram: Rs 880 per sq.ft (2024)
• M.S.Nagar: Rs 1,650 per sq.ft (2024)
• Ms Nagar 47/2a: Rs 1,100 per sq.ft (2024)
• M.S.V Nagar: Rs 1,650 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Agraharam Vada. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and 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 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the stamp duty rates for property in Manickam Nagar?

The stamp duty rate for property in Manickam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Manickam Nagar?

The Poonamallee Sub Registrar Office handles property registrations in Manickam Nagar. Its address is No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Manickam Nagar?

Manickam Nagar falls under the Residential Special Type - I land classification as per the local regulations.