Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village, under the Thiruvottiyur SRO, and is classified as Mixed Special Type - III.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 138 per sq.ft, which increased to Rs 157 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then a remarkable jump to Rs 1,400 per sq.ft in 2012. However, the value decreased to Rs 938 per sq.ft in 2017, before rising again to Rs 1,400 per sq.ft in 2023, and finally reaching Rs 1,500 per sq.ft in the 2024 revision.

Examining the changes between these revisions, we see that from 2002 to 2024, the overall increase was +987%. The jump from 2023 to 2024 was +7%, while the increase from 2017 to 2023 was +49%. The value saw a decrease of -33% from 2012 to 2017, and a notable increase of +250% from 2007 to 2012. Additionally, the rise from 2003 to 2007 was +155%, and from 2002 to 2003, it was +14%. There are no figures available for any other years in the register for this street.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median value is Rs 1,200 per sq.ft, placing Bharathiyar Street's 2024 figure above this median.

• Bharathidasan Street: Rs 1,500 per sq.ft (2024)
• Chandran Street: Rs 1,200 per sq.ft (2024)
• Balaraman Street: Rs 1,500 per sq.ft (2024)
• Chinna Kannu Street: Rs 1,500 per sq.ft (2024)
• Dr. Ambetkar Street / Nagar: Rs 1,500 per sq.ft (2024)
• Dr. New M.G.R. Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, resulting in a total of Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street?

The Sub Registrar Office that covers Bharathiyar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manali. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions based on current market conditions.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 138 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, showing an overall increase of +987% over this period.

What is the land classification of Bharathiyar Street?

Bharathiyar Street is classified as Mixed Special Type - III.

Where can I find the Sub Registrar Office for Bharathiyar Street?

The Sub Registrar Office for Bharathiyar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties on Bharathiyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 15,00,000 would incur a stamp duty of Rs 1,05,000 at a rate of 7%.