Guideline Value for DURAISWAMY IYAR STREET

Duraiswamy Iyar Street guideline value

The current guideline value of Duraiswamy Iyar 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 is classified as Residential Special Type - II.

How the guideline value of Duraiswamy Iyar Street has changed

The guideline value for Duraiswamy Iyar Street has seen several revisions over the years. In 2002, the value was Rs 138 per sq.ft, which increased to Rs 178 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and the value further increased to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017 before climbing to Rs 1,100 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 1,200 per sq.ft.

Between the revisions, notable changes include a 29% increase from 2002 to 2003, a 125% increase from 2003 to 2007, a 175% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 770%.

Guideline values in Manali

In Manali, 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 for these streets is Rs 1,200 per sq.ft, which matches the current guideline value of Duraiswamy Iyar Street.

• Duraiswamy Street: Rs 1,200 per sq.ft (2024)
• Dr. Rajendra Prasad Street: Rs 1,200 per sq.ft (2024)
• Dr. Radhakrishnan Road: Rs 1,200 per sq.ft (2024)
• Dr. New M.G.R. Nagar: Rs 1,200 per sq.ft (2024)
• Dr. Ambetkar Street / Nagar: Rs 1,500 per sq.ft (2024)
• Ekambara Pillai Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Iyar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Duraiswamy Iyar Street?

The Sub Registrar Office that covers Duraiswamy Iyar 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 during the registration process when buying or selling property in Manali. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Duraiswamy Iyar Street?

The current guideline value of Duraiswamy Iyar 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 has changed from Rs 138 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 770% over this period.

What is the land classification for Duraiswamy Iyar Street?

Duraiswamy Iyar Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% based on the higher of the guideline value or the sale price of the property.

Where is the Thiruvottiyur Sub Registrar Office located?

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