Guideline Value for NORTH MANICKA PERUMAL KOVIL STREET

North Manicka Perumal Kovil Street guideline value

The current guideline value of North Manicka Perumal Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of North Manicka Perumal Kovil Street has changed

The guideline value for North Manicka Perumal Kovil Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 106 per sq.ft, which increased to Rs 118 per sq.ft in 2003. Following this, the 2007 revision saw a significant rise to Rs 400 per sq.ft. The value then increased dramatically to Rs 1,500 per sq.ft in the 2012 revision, before dropping to Rs 1,005 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, culminating in the current value of Rs 1,650 per sq.ft as of 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1457%. The register has no figure for the years not mentioned in this summary.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing North Manicka Perumal Kovil Street's 2024 value below that median.

• Nehru Street: Rs 1,650 per sq.ft (2024)
• Palla Colony: Rs 1,100 per sq.ft (2024)
• Panchayat Office Road: Rs 1,980 per sq.ft (2024)
• Narmatha Street: Rs 2,530 per sq.ft (2024)
• Narkudi Eswaran Koil Street: Rs 2,200 per sq.ft (2024)
• Parthasarathy Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in North Manicka Perumal Kovil Street

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, totaling 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers North Manicka Perumal Kovil Street?

The Sub Registrar Office that covers North Manicka Perumal Kovil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are based on a standardized valuation.

Frequently asked questions

What is the current guideline value of North Manicka Perumal Kovil Street?

The current guideline value of North Manicka Perumal Kovil Street 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 106 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1457% over this period.

What is the land classification for North Manicka Perumal Kovil Street?

The land classification for North Manicka Perumal Kovil Street is Residential Class IV Type - III.

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

The Sub Registrar Office for North Manicka Perumal Kovil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.