Guideline Value for SEIK MANIYAM ROAD

Seik Maniyam Road guideline value

The current guideline value of Seik Maniyam Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Seik Maniyam Road has changed

The guideline value for Seik Maniyam Road has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 80 per sq.ft. This figure increased to Rs 216 per sq.ft in 2003, marking a significant rise of 170%. The value continued to climb to Rs 500 per sq.ft in 2007, reflecting a 131% increase. By 2012, the value reached Rs 1,200 per sq.ft, which was a 140% increase from the previous revision. However, in 2017, it decreased to Rs 804 per sq.ft, showing a decline of 33%.

In the subsequent revisions, the guideline value rose again, reaching Rs 1,200 per sq.ft in 2023, an increase of 49% from 2017. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1550%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Seik Maniyam Road's 2024 figure below this median.

• Shameer Sulthan Inam Maniyam Land: Rs 1,320 per sq.ft (2024)
• Shri Andal Nagar Annex: Rs 1,660 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Shri Kamatchiamman Nagar: Rs 1,320 per sq.ft (2024)
• Shri Lalitha Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Seik Maniyam Road

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the 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. It is important to note that 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 details.

Which Sub Registrar Office covers Seik Maniyam Road?

The Sub Registrar Office that covers Seik Maniyam Road 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 Vanagaram

The guideline value plays a crucial role in property transactions in Vanagaram. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees. It is essential to be aware of the guideline value to ensure compliance with local regulations during the registration process.

Additionally, the guideline value serves as a benchmark for property transactions, helping buyers and sellers understand the official valuation of properties in the area. This value is particularly important for legal documentation and financial planning related to real estate transactions.

Frequently asked questions

What is the current guideline value of Seik Maniyam Road?

The current guideline value of Seik Maniyam Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 80 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 1550% over the years.

What is the registration office for Seik Maniyam Road?

The registration office for Seik Maniyam Road 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 Seik Maniyam Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft incurs a total stamp duty and registration fee of Rs 1,18,800.

What other streets have similar guideline values in Vanagaram?

Other streets in Vanagaram with similar guideline values include Shameer Sulthan Inam Maniyam Land and Shri Kamatchiamman Nagar, both at Rs 1,320 per sq.ft in 2024.