Guideline Value for Manikandan Street

Manikandan Street guideline value

The current guideline value of Manikandan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, which falls under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

How the guideline value of Manikandan Street has changed

The guideline value for Manikandan Street has seen several revisions over the years. In 2003, the value was Rs 221 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007, marking a rise of 81%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The 2023 revision saw the value rise again to Rs 2,000 per sq.ft, and the latest revision in 2024 brings it to Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 895%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,530 per sq.ft, positioning Manikandan Street's 2024 figure below that median.

• Manickam Nagar 2nd Cross St.: Rs 2,160 per sq.ft (2024)
• Manickam Nagar 1st Cross St.: Rs 2,160 per sq.ft (2024)
• Manickam Nagar: Rs 2,160 per sq.ft (2024)
• Manoharan Street: Rs 2,200 per sq.ft (2024)
• Marden Avenue, Ganga Nagar Ext: Rs 1,980 per sq.ft (2024)
• Marden Avenue, Sumuga Vinayagar Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manikandan Street?

The Sub Registrar Office that covers Manikandan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Manikandan Street?

The current guideline value of Manikandan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 221 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 895% over the years.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for streets in Kilkattalai is Rs 2,530 per sq.ft as of 2024.

What are the stamp duty rates applicable in Manikandan Street?

The stamp duty rate for properties in Manikandan Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Manikandan Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.