Guideline Value for Manikavasagam Street

Manikavasagam Street guideline value

The current guideline value of Manikavasagam Street is Rs 2,000 per sq.ft, as per the 2023 revision. This street is located in Urapakkam village, under the Gooduvancheri SRO, and is classified as Mixed Special Type - I.

How the guideline value of Manikavasagam Street has changed

The guideline value for Manikavasagam Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% increase. However, in the 2017 revision, the value dropped to Rs 1,340 per sq.ft, representing a decrease of 33% from the previous figure. The most recent revision in 2023 saw the guideline value rise to Rs 2,000 per sq.ft again, reflecting an increase of 49% from the 2017 revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 300%. It is important to note that there are no figures available for the 2024, 2003, and 2002 revisions for this street.

Guideline values in Urapakkam

Currently, the guideline value for Manikavasagam Street is Rs 2,000 per sq.ft. Unfortunately, there are no other village figures provided for Urapakkam. Below is the list of other streets in Urapakkam:

Stamp duty and registration fee for property in Manikavasagam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. 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 Manikavasagam Street?

The Sub Registrar Office that covers Manikavasagam Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Urapakkam, the guideline value is crucial as it determines the stamp duty and registration fees applicable during the registration process. The guideline value serves as a benchmark for these fees, ensuring that they are calculated based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall costs involved in property transactions. This value is used to assess the financial obligations that arise during the registration of property transfers.

Frequently asked questions

What is the current guideline value of Manikavasagam Street?

The current guideline value of Manikavasagam Street is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, moving from Rs 500 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then dropping to Rs 1,340 per sq.ft in 2017, and finally returning to Rs 2,000 per sq.ft in 2023.

What is the stamp duty rate for properties in Manikavasagam Street?

The stamp duty rate for properties in Manikavasagam Street is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Manikavasagam Street?

The registration fee for properties in Manikavasagam Street is 2% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.