Guideline Value for Manikandan Avenue

Manikandan Avenue guideline value

The current guideline value of Manikandan Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Manikandan Avenue has changed

The guideline value for Manikandan Avenue has seen several revisions over the years. In 2002, the value was Rs 144 per sq.ft, which increased to Rs 170 per sq.ft in 2003, marking an 18% rise. The value further increased significantly to Rs 500 per sq.ft in 2007, representing a 194% change. By 2012, the guideline value remained at Rs 1,800 per sq.ft, with no change noted until 2023.

The 2023 revision set the value at Rs 1,800 per sq.ft, which then increased to Rs 1,900 per sq.ft in 2024, reflecting a 6% rise. It is important to note that the register has no figure for this street for the year 2017.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, positioning Manikandan Avenue's 2024 figure below this median.

• Manikanda Nagar: Rs 990 per sq.ft (2024)
• Manikandan Street: Rs 1,900 per sq.ft (2024)
• Manikanda Puram: Rs 2,400 per sq.ft (2024)
• Manikandapuram 1st Left St.: Rs 2,400 per sq.ft (2024)
• Manikandapuram 1st Right St.: Rs 2,400 per sq.ft (2024)
• Manikandapuram 1st Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, resulting in a total of Rs 1,71,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manikandan Avenue?

The Sub Registrar Office that covers Manikandan Avenue 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 Thirumullaivoyal

The guideline value is a crucial factor during the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both buyers and sellers. It is advisable to be aware of the current guideline value to understand the financial implications of the property transaction.

Frequently asked questions

What is the current guideline value of Manikandan Avenue?

The current guideline value of Manikandan Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 144 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, with significant increases noted in various revisions.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft, with Manikandan Avenue's value being below this median.

What are the stamp duty and registration fees for properties in Manikandan Avenue?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for properties in Manikandan Avenue?

The Ambattur Sub Registrar Office handles the registration for properties in Manikandan Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.