Guideline Value for Manimozhi Nagar

Manimozhi Nagar guideline value

The current guideline value of Manimozhi Nagar, located in Vellarai village under the Sriperumpudur SRO, is Rs 200 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Manimozhi Nagar has changed

Over the years, the guideline value of Manimozhi Nagar has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. This was a remarkable increase of 300%. However, the value then decreased to Rs 134 per sq.ft in the 2017 revision, marking a decline of 33%. From 2017 to 2023, the value rose again to Rs 200 per sq.ft, reflecting an increase of 49%. The guideline value has remained the same from the 2023 revision to the current 2024 revision, with no percentage change.

The register has no figure for this street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vellarai

In Vellarai village, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. Manimozhi Nagar's current guideline value is below this median.

• Manavala Nagar: Rs 200 per sq.ft (2024)
• Madhurai Veeran Street: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 110 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Galaxy Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Manimozhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Manimozhi Nagar?

The Sub Registrar Office that covers Manimozhi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Vellarai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are prepared for the financial aspects of the transaction.

At the time of registration, the guideline value is compared with the sale price of the property. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manimozhi Nagar?

The current guideline value of Manimozhi Nagar is Rs 200 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and increased back to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Manimozhi Nagar?

The land classification for Manimozhi Nagar is Residential Special Type - III.

What are the stamp duty and registration fees for a property in Manimozhi Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Manimozhi Nagar located?

The Sub Registrar Office for Manimozhi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.