Guideline Value for Maniyammai Nagar Phase-III

Maniyammai Nagar Phase-III guideline value

The current guideline value of Maniyammai Nagar Phase-III is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Maniyammai Nagar Phase-III has changed

The guideline value for Maniyammai Nagar Phase-III has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the guideline value saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Maniyammai Nagar Phase-III aligns with this median.

• Maniyammai Nagar: Rs 505 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 500 per sq.ft (2024)
• M.K.R. Nagar: Rs 500 per sq.ft (2024)
• Kumarasami Garden Phase - II: Rs 896 per sq.ft (2024)
• Kumarasaamy Garden: Rs 896 per sq.ft (2024)
• Muthu Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Maniyammai Nagar Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Maniyammai Nagar Phase-III?

The Sub Registrar Office that covers Maniyammai Nagar Phase-III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Maniyammai Nagar Phase-III?

The current guideline value of Maniyammai Nagar Phase-III is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Maniyammai Nagar Phase-III?

Maniyammai Nagar Phase-III is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Gooduvancheri Sub Registrar Office covers Maniyammai Nagar Phase-III, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Maniyammai Nagar Phase-III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000 at 7%, plus a registration fee of Rs 10,000 at 2%, totaling Rs 45,000 in fees.