Guideline Value for Nanjil Manoharan Nagar

Nanjil Manoharan Nagar guideline value

The current guideline value of Nanjil Manoharan Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Nanjil Manoharan Nagar has changed

The guideline value for Nanjil Manoharan Nagar has seen several revisions over the years. In 2007, the value was set at Rs 2,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 250%. However, this value dropped to Rs 4,690 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 raised the guideline value to Rs 7,000 per sq.ft, and the most recent revision in 2024 further increased it to Rs 7,700 per sq.ft, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 285%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Nanjil Manoharan Nagar's 2024 figure below that median.

• Narayanan Street: Rs 7,700 per sq.ft (2024)
• Namashivayapuram (facing Nelson Manickam Road): Rs 9,900 per sq.ft (2024)
• Namachivayapuram: Rs 6,600 per sq.ft (2024)
• Nageswara Road: Rs 10,400 per sq.ft (2024)
• Nawaz Abibullah 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 2nd Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nanjil Manoharan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, leading to a combined total of Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nanjil Manoharan Nagar?

Nanjil Manoharan Nagar is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the transaction price. Buyers should ensure that the sale price is in line with the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Nanjil Manoharan Nagar?

The current guideline value of Nanjil Manoharan Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting a total increase of 285% over the years.

What are the stamp duty and registration fees in Nanjil Manoharan Nagar?

For a plot of 1,000 sq.ft, the total stamp duty is Rs 5,39,000, and the registration fee is Rs 1,54,000, totaling Rs 6,93,000 based on the current guideline value.

Which Sub Registrar Office handles registrations for Nanjil Manoharan Nagar?

The Chennai Central Joint II Sub Registrar Office handles registrations for Nanjil Manoharan Nagar, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the significance of guideline value in property transactions?

The guideline value is used as a benchmark for registering property transactions, ensuring that the sale price is in line with government regulations for stamp duty and registration fees.