Guideline Value for SMK MAANSAROVAR NAGAR

Smk Maansarovar Nagar guideline value

The current guideline value of Smk Maansarovar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Smk Maansarovar Nagar has changed

The guideline value for Smk Maansarovar Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,000 per sq.ft, which was then increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the 2024 revision of Rs 2,200 per sq.ft aligns with the median value of Rs 2,200 per sq.ft for the 144 streets in Kerugambakkam under the Pammal SRO. The previous revision in 2023 was Rs 2,000 per sq.ft, indicating a notable increase in the guideline value.

Guideline values in Kerugambakkam

In Kerugambakkam, the guideline values for various streets range from Rs 1,100 to Rs 4,800 per sq.ft, with the median value being Rs 2,200 per sq.ft. Smk Maansarovar Nagar's 2024 guideline value is equal to this median.

• Sivasakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sivaraj Street: Rs 1,980 per sq.ft (2024)
• S.G.R.Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamaladevi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,980 per sq.ft (2024)
• Sri Lakshmi Nagar Extn.: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Smk Maansarovar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, resulting in Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Smk Maansarovar Nagar?

Smk Maansarovar Nagar is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Kerugambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

The guideline value is particularly important as it helps in determining the legal value of the property being transacted. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration of the property.

Frequently asked questions

What is the current guideline value of Smk Maansarovar Nagar?

The current guideline value of Smk Maansarovar Nagar is Rs 2,200 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Smk Maansarovar Nagar?

Smk Maansarovar Nagar is classified as Residential Class II Type - I. This classification is important for understanding the type of development allowed in the area.

What are the stamp duty and registration fees for properties in Smk Maansarovar Nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 at 7%, and the registration fee is Rs 44,000 at 2%, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Smk Maansarovar Nagar?

The Sub Registrar Office covering Smk Maansarovar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.