Guideline Value for Manickam Street

Manickam Street guideline value

The current guideline value of Manickam Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Manickam Street has changed

The guideline value for Manickam Street has undergone several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft. This figure then decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it up to Rs 800 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 850 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Manickam Street is below this median.

• Manickavasakar Street: Rs 1,100 per sq.ft (2024)
• Manickam Avenue: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 2nd Street: Rs 4,400 per sq.ft (2024)
• Manimekalai Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, making the total fees Rs 76,500. It is essential to 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 Street?

The Sub Registrar Office that covers Manickam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware that these fees are determined by the guideline value or the sale price, whichever is higher.

When purchasing property, the guideline value ensures that the transaction is recorded accurately and fairly in the government records. It helps in maintaining transparency in property dealings and assists in the proper assessment of taxes related to property transactions.

Frequently asked questions

What is the current guideline value of Manickam Street?

The current guideline value of Manickam Street is Rs 850 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 2012, decreased to Rs 536 per sq.ft in 2017, and then increased to Rs 800 per sq.ft in 2023. The latest revision in 2024 set it at Rs 850 per sq.ft.

What is the land classification of Manickam Street?

Manickam Street is classified as Residential Class V Type - I.

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

The Sub Registrar Office for Manickam Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Manickam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,50,000, the stamp duty at 7% would be Rs 59,500.