Guideline Value for Manikandapuri

Manikandapuri guideline value

The current guideline value of Manikandapuri is Rs 200 per sq.ft, effective from 1 July 2024. This village is part of Somangalam_B under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Manikandapuri has changed

The guideline value for Manikandapuri has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The 2024 revision has also maintained the guideline value at Rs 200 per sq.ft, reflecting a 49% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that the guideline value for Manikandapuri is below this median.

• MR Nagar: Rs 200 per sq.ft (2024)
• Kundrathur main road: Rs 500 per sq.ft (2024)
• Mrp Green Homes: Rs 747 per sq.ft (2024)
• MRP Green Village: Rs 747 per sq.ft (2024)
• Kulakkarai street: Rs 400 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Manikandapuri

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Manikandapuri?

The Sub Registrar Office that covers Manikandapuri is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Manikandapuri?

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 134 per sq.ft to Rs 200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Manikandapuri?

Manikandapuri is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Manikandapuri located?

The Sub Registrar Office for Manikandapuri is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Manikandapuri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 18,000.