Guideline Value for Manimedu (ward 7)

Manimedu (ward 7) guideline value

The current guideline value of Manimedu (ward 7) is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Thandalam village and falls under the Pammal SRO. The land classification is Residential Class I Type - I.

How the guideline value of Manimedu (ward 7) has changed

The guideline value for Manimedu (ward 7) has undergone several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft, which increased to Rs 1,100 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,210 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions highlight a significant rise, particularly between 2017 and 2023, where the value increased by 49%.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value is Rs 1,210 per sq.ft, which is equal to the 2024 guideline value of Manimedu (ward 7).

• Manimedu (ward 1): Rs 1,210 per sq.ft (2024)
• Manimedu (ward 8): Rs 1,210 per sq.ft (2024)
• Manimedu (ward 9): Rs 1,210 per sq.ft (2024)
• Mariamman Koil Street (ward 1): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 2): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 5): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Manimedu (ward 7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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 detailed calculations.

Which Sub Registrar Office covers Manimedu (ward 7)?

The Sub Registrar Office that covers Manimedu (ward 7) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Thandalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it may influence the sale price and the associated costs for both buyers and sellers. The guideline value ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Manimedu (ward 7)?

The current guideline value of Manimedu (ward 7) is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023, and then to Rs 1,210 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

What is the land classification for Manimedu (ward 7)?

The land classification for Manimedu (ward 7) is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Manimedu (ward 7)?

The Sub Registrar Office for Manimedu (ward 7) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for property transactions in Manimedu (ward 7)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,10,000, the stamp duty at 7% would be Rs 84,700.