Guideline Value for Manju Garden

Manju Garden guideline value

The current guideline value of Manju Garden, located in Perungalathur village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Manju Garden has changed

The guideline value for Manju Garden has seen several revisions over the years. The earliest recorded revision in 2007 set the guideline value at Rs 300 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 450% in the guideline value. The changes between the revisions reflect fluctuations in property valuation over the years, with the most significant increase occurring between 2007 and 2012, and a notable rise of 49% from 2017 to 2023.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Manju Garden is below this median, indicating a relatively lower valuation compared to other streets in the area.

• Manimegalai Street: Rs 2,310 per sq.ft (2024)
• Manikkavasakar Street: Rs 1,650 per sq.ft (2024)
• MA.PO.SI. Street: Rs 1,980 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 2,310 per sq.ft (2024)
• Manavala Nagar: Rs 2,310 per sq.ft (2024)
• Manaliramakishna Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Manju Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manju Garden?

The Sub Registrar Office that covers Manju Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Manju Garden?

The current guideline value of Manju Garden is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What are the stamp duty and registration fees for property in Manju Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, resulting in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles property registration in Manju Garden?

The Padappai Sub Registrar Office handles property registration for Manju Garden, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the land classification for Manju Garden?

The land classification for Manju Garden is Residential Class IV Type - II, indicating its use for residential purposes.