Guideline Value for Manickavasakar Street

Manickavasakar Street guideline value

The current guideline value of Manickavasakar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, classified as Residential Class IV Type - I.

How the guideline value of Manickavasakar Street has changed

The guideline value of Manickavasakar Street has seen several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, reflecting a significant rise of 122%. However, it decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and subsequently increased to the current rate of Rs 1,100 per sq.ft in 2024, representing a 10% increase.

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 144%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have 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 of Manickavasakar Street is below this median.

• Manickam Street: Rs 850 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 Manickavasakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manickavasakar Street?

The Sub Registrar Office that covers Manickavasakar 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 an essential factor in property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration of property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at an official rate, which helps in maintaining transparency and consistency in property dealings. It is crucial for buyers and sellers to be aware of these values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Manickavasakar Street?

The current guideline value of Manickavasakar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 144% over this period.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with the values for various streets ranging from Rs 850 to Rs 6,500 per sq.ft.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000, based on the guideline value of Rs 11,00,000.

Where is the Selaiyur Sub Registrar Office located?

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