Guideline Value for mani nagar

Mani Nagar guideline value

The current guideline value of Mani Nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mani Nagar has changed

The guideline value of Mani Nagar has seen several revisions over the years. The 2007 revision recorded a value of Rs 200 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 900% increase. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which then increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 guideline value, there has been a remarkable increase of 1000%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Mani Nagar.

• Mariamman koil street: Rs 2,200 per sq.ft (2024)
• Malliam Narasima nagar: Rs 2,200 per sq.ft (2024)
• Masudhi street: Rs 2,740 per sq.ft (2024)
• Meera sahib street: Rs 2,200 per sq.ft (2024)
• Melma nagar: Rs 2,200 per sq.ft (2024)
• Mahalakshmi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mani 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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the stamp 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 Mani Nagar?

The Sub Registrar Office that covers Mani Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thereby influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mani Nagar?

The current guideline value of Mani Nagar is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing a total increase of 1000% over the years.

What are the stamp duty and registration fees for property in Mani Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Mani Nagar?

The Poonamallee Sub Registrar Office handles property registrations for Mani Nagar, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification of Mani Nagar?

The land classification for Mani Nagar is Residential Class II Type - I, indicating its designation for residential use.