Guideline Value for Manickam st ( Ward No.22 )

Manickam st ( Ward No.22 ) guideline value

The current guideline value of Manickam st ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Manickam st ( Ward No.22 ) has changed

The guideline value for Manickam st has seen significant changes over the years. In the 2017 revision, the value was set at Rs 804 per sq.ft. The most recent 2024 revision has increased this to Rs 1,300 per sq.ft, marking a change of +62% from the 2017 figure.

There are no registered figures for this street in the years 2023, 2012, 2007, 2003, and 2002. The only revisions with figures are from 2017 and 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that the current guideline value of Manickam st is below this median.

• Manickam Nagar (Ward-1): Rs 1,300 per sq.ft (2024)
• Manjambakkam Road: Rs 1,300 per sq.ft (2024)
• Manjambakkam to Assisi Nagar Road ( Ward No.6 ): Rs 1,300 per sq.ft (2024)
• Mannadi St ( Ward No.5 ): Rs 1,300 per sq.ft (2024)
• Maneesh Avenue: Rs 2,500 per sq.ft (2024)
• Mannady Street (Ettapalayam): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manickam st ( Ward No.22 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manickam st ( Ward No.22 )?

The Sub Registrar Office that covers Manickam st ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that all transactions are recorded at a fair value, preventing undervaluation. This is essential for maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for Manickam st ( Ward No.22 )?

The current guideline value for Manickam st ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, representing a change of +62%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the classification of Manickam st ( Ward No.22 )?

Manickam st ( Ward No.22 ) is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manickam st ( Ward No.22 )?

The Sub Registrar Office for Manickam st ( Ward No.22 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration needs for properties in the area.