Guideline Value for Sri Manakula Vinayagar Nagar

Sri Manakula Vinayagar Nagar guideline value

The current guideline value of Sri Manakula Vinayagar Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Sri Manakula Vinayagar Nagar has changed

The guideline value for Sri Manakula Vinayagar Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase to Rs 1,430 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing the 2024 figure for Sri Manakula Vinayagar Nagar below this median.

• Sri Mahaveer Avenue: Rs 1,760 per sq.ft (2024)
• Sri Mehta Nagar: Rs 1,540 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar: Rs 1,210 per sq.ft (2024)
• Sri Kutti Vinayaga Avenue: Rs 1,320 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,760 per sq.ft (2024)
• Sri Kubera Ganapathi Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Manakula Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. Stamp duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Manakula Vinayagar Nagar?

The Sub Registrar Office that covers Sri Manakula Vinayagar Nagar is 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 Kunrathour-B

The guideline value plays a crucial role in the registration process of property transactions in Kunrathour-B. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

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

Frequently asked questions

What is the current guideline value of Sri Manakula Vinayagar Nagar?

The current guideline value of Sri Manakula Vinayagar Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024, showing an overall increase of 64% from 2017 to 2024.

What is the median guideline value for streets in Kunrathour-B?

The median guideline value for streets in Kunrathour-B is Rs 1,540 per sq.ft, with Sri Manakula Vinayagar Nagar's 2024 figure being below this median.

What are the stamp duty rates for properties in Sri Manakula Vinayagar Nagar?

The stamp duty for properties in Sri Manakula Vinayagar Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Manakula Vinayagar Nagar located?

The Sub Registrar Office for Sri Manakula Vinayagar Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.