Guideline Value for Manickam Street (Muthurangam Block)

Manickam Street (Muthurangam Block) guideline value

The current guideline value of Manickam Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Manickam Street (Muthurangam Block) has changed

The guideline value of Manickam Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 4,100 per sq.ft, a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Manickam Street's 2024 figure below this median.

• Manickam Street (W.M): Rs 5,500 per sq.ft (2024)
• Manikkavasagar Street: Rs 4,100 per sq.ft (2024)
• Manimegalai Street: Rs 3,300 per sq.ft (2024)
• Mangai Street: Rs 4,900 per sq.ft (2024)
• Mangai Nagar: Rs 4,900 per sq.ft (2024)
• Manthoppu Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Street (Muthurangam Block)

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manickam Street (Muthurangam Block)?

The Sub Registrar Office covering Manickam Street (Muthurangam Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is sold, the buyer must pay these fees to ensure that the transaction is legally recorded. Understanding the guideline value helps buyers and sellers prepare for the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Manickam Street?

The current guideline value of Manickam Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413%.

What is the stamp duty for property in Manickam Street?

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

Where is the Sub Registrar Office for Manickam Street located?

The Sub Registrar Office for Manickam Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

What is the land classification of Manickam Street?

Manickam Street is classified as Residential Class IV Type - I, indicating its designation for residential use.