Guideline Value for Outer Ring Road

Outer Ring Road guideline value

The current guideline value of Outer Ring Road in Mannivakkam village, under the Gooduvancheri SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Outer Ring Road has changed

The guideline value for Outer Ring Road has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and then further increased to Rs 1,650 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing the Outer Ring Road's 2024 figure above this median.

• Nova Ncr: Rs 3,300 per sq.ft (2024)
• Nethaji Avenue: Rs 2,200 per sq.ft (2024)
• Nedunsalai Nagar: Rs 1,100 per sq.ft (2024)
• Naresh Avenue: Rs 1,100 per sq.ft (2024)
• Periyar street: Rs 990 per sq.ft (2024)
• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Outer Ring Road

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Outer Ring Road?

The Outer Ring Road is covered by 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 additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Outer Ring Road?

The current guideline value of Outer Ring Road in Mannivakkam 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value for streets in Mannivakkam?

The median guideline value for the 118 streets in Mannivakkam is Rs 1,215 per sq.ft, with Outer Ring Road's value being above this median.

What are the stamp duty and registration fees for property in Outer Ring Road?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Gooduvancheri Sub Registrar Office located?

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