Guideline Value for CHANDRAN STREET

Chandran Street guideline value

The current guideline value of Chandran Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, and it is classified as Residential Special Type - II.

How the guideline value of Chandran Street has changed

Since the inception of the guideline value register, Chandran Street has seen several revisions. The guideline value started at Rs 88 per sq.ft in 2002 and increased to Rs 100 per sq.ft in 2003, marking a 14% rise. The value then rose by 100% to Rs 200 per sq.ft in 2007. Following this, the value experienced a significant increase of 450%, reaching Rs 1,100 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 737 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 1,100 per sq.ft. The most recent revision in 2024 marked a further increase of 9%, resulting in the current guideline value of Rs 1,200 per sq.ft. The overall change from 2002 to 2024 reflects a substantial increase of 1264%.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry 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, which is equal to the current guideline value of Chandran Street.

• Chinna Kannu Street: Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Bharathidasan Street: Rs 1,500 per sq.ft (2024)
• Balaraman 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 Chandran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandran Street?

The Sub Registrar Office that covers Chandran 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 plays a crucial role in property transactions in Manali. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. This value is essential for ensuring that the appropriate taxes are collected during the registration process.

When selling a property, the guideline value serves as a benchmark for pricing. It helps both buyers and sellers understand the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Chandran Street?

The current guideline value of Chandran Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Chandran Street has increased significantly from Rs 88 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1264%.

What are the other streets in Manali with their guideline values?

Other streets in Manali include Chinna Kannu Street, Bharathiyar Street, Bharathidasan Street, Balaraman Street, Dr. Ambetkar Street / Nagar, and Dr. New M.G.R. Nagar, with values ranging from Rs 1,200 to Rs 1,500 per sq.ft in 2024.

What fees are associated with buying property in Chandran Street?

When purchasing property in Chandran Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chandran Street located?

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