Guideline Value for Manimegalai Colony

Manimegalai Colony guideline value

The current guideline value of Manimegalai Colony, located in Thalakanancherry village under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Manimegalai Colony has changed

The guideline value of Manimegalai Colony has experienced several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33% from the previous revision. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 180%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Manimegalai Colony is below this median.

• Manimegalai Street: Rs 3,900 per sq.ft (2024)
• Mangaiyarkarasi Nagar 46 th street 1st cross street: Rs 3,900 per sq.ft (2024)
• Mangaiyarkarasi Nagar: Rs 3,900 per sq.ft (2024)
• Malaicharivu Road: Rs 2,800 per sq.ft (2024)
• Medavakkam Main road: Rs 5,500 per sq.ft (2024)
• Meenambakkam Building society Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Manimegalai Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manimegalai Colony?

The Sub Registrar Office that covers Manimegalai Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manimegalai Colony?

The current guideline value of Manimegalai Colony is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 180% over the years.

What are the stamp duty and registration fees for property in Manimegalai Colony?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000 based on the current guideline value.

Which Sub Registrar Office covers Manimegalai Colony?

The Alandur Sub Registrar Office covers Manimegalai Colony, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Manimegalai Colony?

Manimegalai Colony falls under the Residential Class II Type - II land classification.