Guideline Value for Manneeshwarar Nagar

Manneeshwarar Nagar guideline value

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

How the guideline value of Manneeshwarar Nagar has changed

The guideline value for Manneeshwarar Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 428%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this village is Rs 1,215 per sq.ft, which means the guideline value of Manneeshwarar Nagar is above this median.

• Manneeshwarar Avenue: Rs 1,650 per sq.ft (2024)
• Manneeshwarar Nagar Extn: Rs 1,320 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

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 at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manneeshwarar Nagar?

The Sub Registrar Office covering Manneeshwarar Nagar 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 further assistance.

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

The guideline value is a crucial factor during property registration in Mannivakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Manneeshwarar Nagar?

The current guideline value of Manneeshwarar Nagar 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 a total increase of 428% over the years.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, with Manneeshwarar Nagar's value being above this median.

How is stamp duty calculated for properties in Manneeshwarar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.