Guideline Value for Manikandan Nagar

Manikandan Nagar guideline value

The current guideline value of Manikandan Nagar is Rs 181 per sq.ft, effective from 1 July 2024. This area is located in Kunnam village and falls under the Sunguvarchattram SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Manikandan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 134 per sq.ft, marking a decline of 33%. The value then increased to Rs 181 per sq.ft in the 2023 revision, resulting in a 35% rise. The current 2024 revision maintains the guideline value at Rs 181 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, when considering the changes from the 2012 revision to the 2024 revision, the guideline value has decreased by 10%.

Guideline values in Kunnam

Kunnam village has 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 660 per sq.ft. The median value among these streets is Rs 200 per sq.ft, making the 2024 figure for Manikandan Nagar below this median.

• Mettu Street: Rs 181 per sq.ft (2024)
• Lakshmi nagar Extension: Rs 200 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 181 per sq.ft (2024)
• Kizhandai Street: Rs 200 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, and the registration fee at 2% would be Rs 3,620, bringing the total fees to Rs 16,290. It is important to note that 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 Nagar?

The Sub Registrar Office that covers Manikandan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Kunnam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable fees, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Manikandan Nagar?

The current guideline value of Manikandan Nagar is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 181 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Manikandan Nagar?

Manikandan Nagar is classified as Residential Class II Type - I.

What is the registration office for Manikandan Nagar?

The registration office for Manikandan Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Manikandan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate of Rs 181 per sq.ft would incur a total stamp duty and registration fee of Rs 16,290.