Guideline Value for Sekkizhar Nagar Manickavasagar Street

Sekkizhar Nagar Manickavasagar Street guideline value

The current guideline value of Sekkizhar Nagar Manickavasagar Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sekkizhar Nagar Manickavasagar Street has changed

Over the years, the guideline value for Sekkizhar Nagar Manickavasagar Street has undergone several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which then dropped to Rs 938 per sq.ft in the 2017 revision. However, there was a significant increase of 49% to Rs 1,400 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the guideline value to Rs 1,550 per sq.ft, marking an 11% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,550 per sq.ft, which is the same as the current value for Sekkizhar Nagar Manickavasagar Street.

• Sekkizhar Nagar Kavikambar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Siruthondar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Karaikal Ammaiyar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thilagavathiar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Kannappar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thirumoolar Salai: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Sekkizhar Nagar Manickavasagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sekkizhar Nagar Manickavasagar Street?

The Sekkizhar Nagar Manickavasagar Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers alike, as it impacts the overall cost of property transactions. This ensures that all parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Sekkizhar Nagar Manickavasagar Street?

The current guideline value of Sekkizhar Nagar Manickavasagar Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,550 per sq.ft in 2024, marking an 11% increase. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Sekkizhar Nagar Manickavasagar Street?

The land classification for Sekkizhar Nagar Manickavasagar Street is Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500.