Guideline Value for SRI MANAV CITYSCAPE

Sri Manav Cityscape guideline value

The current guideline value of Sri Manav Cityscape in Kannivakkam village, under the Thiruporur SRO, is Rs 450 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Manav Cityscape has changed

Over the years, the guideline value of Sri Manav Cityscape has seen several revisions. The 2012 revision set the value at Rs 450 per sq.ft, which remained unchanged in the 2023 revision. However, from 2017 to 2023, there was a significant increase of 50%, with the 2017 revision at Rs 301 per sq.ft. The 2024 revision again set the value at Rs 450 per sq.ft, showing no change from the previous year.

There are also revisions for the years 2002, 2003, and 2007, but the register has no figure for this street in those years. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same.

Guideline values in Kannivakkam

In Kannivakkam, there are 32 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,389 per sq.ft, with a median value of Rs 1,050 per sq.ft. Sri Manav Cityscape's 2024 figure is below this median.

• Star City: Rs 1,000 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,493 per sq.ft (2024)
• Selli Amman Avenue: Rs 1,800 per sq.ft (2024)
• Sarathy Nagar Phase-I, Phase-II: Rs 900 per sq.ft (2024)
• Saraswathi Avenue: Rs 900 per sq.ft (2024)
• Sanjai Nagar Phase - I: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Manav Cityscape

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, making the total cost for these fees Rs 40,500. It's important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Manav Cityscape?

The Sub Registrar Office covering Sri Manav Cityscape is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kannivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When completing a property transaction, the buyer and seller must consider the guideline value to calculate applicable fees such as stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sri Manav Cityscape?

The current guideline value of Sri Manav Cityscape is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 450 per sq.ft in 2023 and 2024. The value was Rs 301 per sq.ft in 2017 and Rs 450 per sq.ft in 2012.

What are the other streets in Kannivakkam and their guideline values?

Other streets in Kannivakkam have varying guideline values, ranging from Rs 450 to Rs 2,389 per sq.ft. Some notable examples include Star City at Rs 1,000 per sq.ft and Shanmuga Nagar at Rs 1,493 per sq.ft.

How is stamp duty calculated for properties in Sri Manav Cityscape?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,50,000, the stamp duty at 7% would amount to Rs 31,500.

Where is the Sub Registrar Office for Sri Manav Cityscape located?

The Sub Registrar Office for Sri Manav Cityscape is the Thiruporur Sub Registrar Office, situated at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.