Guideline Value for NGS ENCLAVE, K.MANIKKAM SALAI

Ngs Enclave, K.Manikkam Salai guideline value

The current guideline value of Ngs Enclave, K.Manikkam Salai is Rs 1,540 per sq.ft, effective from 1 July 2024. This property is located in Kunrathour-B village under the Kunrathur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Ngs Enclave, K.Manikkam Salai has changed

The guideline value for Ngs Enclave has seen several revisions over the years. In 2017, the value was set at Rs 938 per sq.ft. This increased to Rs 1,400 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,540 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which matches the current guideline value of Ngs Enclave.

• North Thoppu Street - I: Rs 1,760 per sq.ft (2024)
• North Thoppu Street - II: Rs 1,760 per sq.ft (2024)
• Om Prakash Nagar: Rs 1,760 per sq.ft (2024)
• Om Sakthi Temple Nagar: Rs 1,760 per sq.ft (2024)
• Ondicheery 1st & 2nd Street: Rs 1,760 per sq.ft (2024)
• Ottakudisai: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Ngs Enclave, K.Manikkam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ngs Enclave, K.Manikkam Salai?

The Sub Registrar Office that covers Ngs Enclave is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a critical factor when registering property transactions in Kunrathour-B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value as it directly impacts the financial obligations during the registration process. The higher of the guideline value or the sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Ngs Enclave, K.Manikkam Salai?

The current guideline value of Ngs Enclave, K.Manikkam Salai is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,540 per sq.ft in 2024, showing an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in Ngs Enclave?

For a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which Sub Registrar Office is responsible for Ngs Enclave?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for Ngs Enclave.

What is the land classification of Ngs Enclave?

Ngs Enclave is classified as Residential Special Type - I under the land classification guidelines.