Guideline Value for Manikkavasakar Street

Manikkavasakar Street guideline value

The current guideline value of Manikkavasakar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Manikkavasakar Street has changed

The guideline value for Manikkavasakar Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 500%. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Manikkavasakar Street is below this median.

• Manimegalai Street: Rs 2,310 per sq.ft (2024)
• Manju Garden: Rs 1,650 per sq.ft (2024)
• MA.PO.SI. Street: Rs 1,980 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 2,310 per sq.ft (2024)
• Manavala Nagar: Rs 2,310 per sq.ft (2024)
• Manaliramakishna Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Manikkavasakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Manikkavasakar Street?

The Sub Registrar Office that covers Manikkavasakar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Perungalathur. It determines the stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value as per government standards. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Manikkavasakar Street?

The current guideline value of Manikkavasakar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Manikkavasakar Street?

Manikkavasakar Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Manikkavasakar Street?

The registration office for Manikkavasakar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Manikkavasakar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.