Guideline Value for Manneeshwarar Nagar Extn

Manneeshwarar Nagar Extn guideline value

The current guideline value of Manneeshwarar Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Manneeshwarar Nagar Extn has changed

The guideline value for Manneeshwarar Nagar Extn has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 380%. However, this value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, and most recently, it has risen to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 428%. The jumps in value from 2017 to 2023 were notable, with a 49% increase, leading to the current figure of Rs 1,320 per sq.ft.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. Manneeshwarar Nagar Extn's current guideline value is above this median.

• Manneeshwarar Nagar: Rs 1,320 per sq.ft (2024)
• Manneeshwarar Avenue: Rs 1,650 per sq.ft (2024)
• Malles Fortune Earth: Rs 4,110 per sq.ft (2024)
• Masuthi Main Road: Rs 990 per sq.ft (2024)
• Masuthi Theru: Rs 990 per sq.ft (2024)
• Loganathan Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Manneeshwarar Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees total Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Manneeshwarar Nagar Extn?

The Sub Registrar Office that covers Manneeshwarar Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mannivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and helps in maintaining accurate records of property transactions.

Frequently asked questions

What is the current guideline value of Manneeshwarar Nagar Extn?

The current guideline value of Manneeshwarar Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Manneeshwarar Nagar Extn?

The Gooduvancheri Sub Registrar Office handles property registrations for Manneeshwarar Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.

What is the land classification of Manneeshwarar Nagar Extn?

Manneeshwarar Nagar Extn is classified as Residential Special Type - III, which is important for determining the usage and regulations applicable to properties in this area.