Guideline Value for Manish Nagar Annex

Manish Nagar Annex guideline value

The current guideline value for Manish Nagar Annex is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sothupakkam village and falls under the Redhills Sub Registrar Office (SRO). The land classification is Residential Class II Type - I.

How the guideline value of Manish Nagar Annex has changed

Since 2007, the guideline value for Manish Nagar Annex has seen significant changes. The value was Rs 200 per sq.ft in 2007, which increased by 100% to Rs 400 per sq.ft in 2012. However, it then decreased by 33% to Rs 268 per sq.ft in 2017. The value rose again by 49% to Rs 400 per sq.ft in 2023, and finally increased by 10% to the current rate of Rs 440 per sq.ft in 2024.

The revisions for the years 2002 and 2003 do not have figures listed for this street. Overall, the guideline value has increased by 120% from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 1,150 per sq.ft. The median guideline value for these streets is Rs 440 per sq.ft, which is the same as the current value for Manish Nagar Annex.

• Manish Nagar: Rs 440 per sq.ft (2024)
• M.S. Nagar: Rs 440 per sq.ft (2024)
• Mutharamman Nagar: Rs 660 per sq.ft (2024)
• Nehru Nagar: Rs 605 per sq.ft (2024)
• New Star Avenue: Rs 330 per sq.ft (2024)
• Periyapalayam Bhavaniamman Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Manish Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Manish Nagar Annex?

The Sub Registrar Office that covers Manish Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sothupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When a buyer or seller engages in a transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the sale or purchase based on the established guideline value.

Frequently asked questions

What is the current guideline value of Manish Nagar Annex?

The current guideline value of Manish Nagar Annex is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, marking an overall increase of 120% over this period.

What are the stamp duty and registration fees for property in Manish Nagar Annex?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Which office handles property registrations in Sothupakkam?

The Redhills Sub Registrar Office handles property registrations in Sothupakkam, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Manish Nagar Annex?

The land classification for Manish Nagar Annex is Residential Class II Type - I, indicating its suitability for residential development.