Guideline Value for Manika Vinayagar Koil St. (Ramapuram)

Manika Vinayagar Koil St. (Ramapuram) guideline value

The current guideline value for Manika Vinayagar Koil St. (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Manika Vinayagar Koil St. (Ramapuram) has changed

The guideline value for Manika Vinayagar Koil St. (Ramapuram) has seen several revisions over the years. In 2012, the guideline value was Rs 3,300 per sq.ft, which decreased to Rs 2,211 per sq.ft in 2017. Following this, the value significantly increased to Rs 3,300 per sq.ft in 2023, and then rose again to the current rate of Rs 3,600 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a growth of 9%. Overall, comparing the years 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, which is equal to the guideline value of Manika Vinayagar Koil St. (Ramapuram).

• Manganath Street (Manjunathan Street): Rs 3,600 per sq.ft (2024)
• Mangalapuram Thiru-vi-ka Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram pillaiar koil Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Periyar 2nd Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padasalai Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padalaru Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Manika Vinayagar Koil St. (Ramapuram)

For a 1,000 sq.ft plot at the current rate of Rs 3,600 per sq.ft, the guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling Rs 3,24,000. 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 precise calculations.

Which Sub Registrar Office covers Manika Vinayagar Koil St. (Ramapuram)?

The Sub Registrar Office that covers Manika Vinayagar Koil St. (Ramapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value for Manika Vinayagar Koil St. (Ramapuram)?

The current guideline value for Manika Vinayagar Koil St. (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

What is the land classification for Manika Vinayagar Koil St. (Ramapuram)?

Manika Vinayagar Koil St. (Ramapuram) is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Manika Vinayagar Koil St. (Ramapuram), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions?

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 36,00,000, the stamp duty at 7% would amount to Rs 2,52,000.