Guideline Value for Manikandan Nagar & extensions

Manikandan Nagar & extensions guideline value

The current guideline value for Manikandan Nagar & extensions is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village under the Kunrathur SRO, with a land classification of Mixed Special Type - III.

How the guideline value of Manikandan Nagar & extensions has changed

The guideline value for Manikandan Nagar & extensions has undergone several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2023 revision. The current 2024 revision reflects a further increase to Rs 1,760 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it has risen by 10%. Overall, the guideline value has seen a significant increase of 64% from 2017 to 2024.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, positioning Manikandan Nagar & extensions above this median.

• Manickam Nagar Phase I: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Manickam Nagar 1st Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Nagar & extensions

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400. It is important to note that the 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 Manikandan Nagar & extensions?

The Sub Registrar Office covering Manikandan Nagar & extensions is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role during the registration of property transactions in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is used to ensure that the transaction is recorded at a fair value, reflecting the current market conditions and property classifications in the area.

Frequently asked questions

What is the current guideline value for Manikandan Nagar & extensions?

The current guideline value for Manikandan Nagar & extensions is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023, and now to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations in Kunrathour-B?

The Kunrathur Sub Registrar Office handles property registrations in Kunrathour-B, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Manikandan Nagar & extensions?

The land classification for Manikandan Nagar & extensions is Mixed Special Type - III.