Guideline Value for Manikandan St

Manikandan St guideline value

The current guideline value of Manikandan St in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Manikandan St has changed

Over the years, the guideline value of Manikandan St has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision further raised it to Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% rise, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that Manikandan St's 2024 figure is below this median.

• Manimegalai Street: Rs 1,650 per sq.ft (2024)
• Mani Street: Rs 2,200 per sq.ft (2024)
• Mani street ext: Rs 1,650 per sq.ft (2024)
• Malli Street: Rs 1,320 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 1,650 per sq.ft (2024)
• Malli Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a total fee of Rs 99,000. 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 details.

Which Sub Registrar Office covers Manikandan St?

The Sub Registrar Office that covers Manikandan St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in real estate dealings.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This helps in maintaining a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Manikandan St?

The current guideline value of Manikandan St 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Manikandan St?

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

Where can I find the registration office for Manikandan St?

The registration office for Manikandan St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.