Guideline Value for Manikavasagar Street, Ramakrishna Nagar,

Manikavasagar Street, Ramakrishna Nagar, guideline value

The current guideline value of Manikavasagar Street, Ramakrishna Nagar, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in the Madipakkam-1 village, under the jurisdiction of the Velacheri SRO. It falls under the Residential Class I Type - III land classification.

How the guideline value of Manikavasagar Street, Ramakrishna Nagar, has changed

The guideline value register for Manikavasagar Street has no figures recorded for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision, which is Rs 2,750 per sq.ft.

Since there are no figures for the previous years, there have been no changes recorded between the revisions for this street. The current value matches the median guideline value for the village of Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Manikavasagar Street's 2024 figure aligns with this median value.

• Manikkavasagar Cross Street: Rs 2,750 per sq.ft (2024)
• Manikavasagar Street: Rs 2,750 per sq.ft (2024)
• Manikandan Street: Rs 3,850 per sq.ft (2024)
• Manimegalai Street: Rs 2,750 per sq.ft (2024)
• Manikandan 3rd Street: Rs 3,850 per sq.ft (2024)
• Manikandan 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Manikavasagar Street, Ramakrishna Nagar,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Manikavasagar Street, Ramakrishna Nagar,?

The Sub Registrar Office that covers Manikavasagar Street, Ramakrishna Nagar, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value is utilized to ensure that the taxes are accurately calculated based on the property's value. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manikavasagar Street, Ramakrishna Nagar?

The current guideline value of Manikavasagar Street, Ramakrishna Nagar, is Rs 2,750 per sq.ft, effective from 1 July 2024.

Are there any previous guideline values for Manikavasagar Street?

The guideline value register has no figures recorded for the years 2002, 2003, 2007, 2012, 2017, and 2023 for Manikavasagar Street.

How does the guideline value in Madipakkam-1 compare to other streets?

The guideline values in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Manikavasagar Street's value of Rs 2,750 per sq.ft is equal to this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft would incur a total charge of Rs 2,47,500.

Where can I find the Sub Registrar Office for Manikavasagar Street?

The Velacheri Sub Registrar Office covers Manikavasagar Street, Ramakrishna Nagar, and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.