Guideline Value for DURAISWAMY STREET

Duraiswamy Street guideline value

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

How the guideline value of Duraiswamy Street has changed

The guideline value for Duraiswamy Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 86 per sq.ft. This increased to Rs 98 per sq.ft in 2003, marking a 14% rise. Following this, the value saw a significant jump to Rs 200 per sq.ft in 2007, representing a 104% increase. The value then rose dramatically to Rs 1,100 per sq.ft in 2012, a 450% increase. However, it decreased to Rs 737 per sq.ft in 2017, reflecting a 33% drop. The value then increased again to Rs 1,100 per sq.ft in 2023, before reaching the current figure of Rs 1,200 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1295%. There are no figures available for the revisions in years other than those mentioned above.

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 the same as the current guideline value for Duraiswamy Street.

• Duraiswamy Iyar 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)
• Ekambara Pillai Street: Rs 1,200 per sq.ft (2024)
• Dr. Ambetkar Street / Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 Duraiswamy Street?

The Sub Registrar Office that covers Duraiswamy 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 when registering property transactions in Manali. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the property transfer process.

When a property is bought or sold, the guideline value helps in determining the minimum value at which the property can be registered. This ensures that the government receives the appropriate stamp duty based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Duraiswamy Street?

The current guideline value of Duraiswamy 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 86 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, representing an overall increase of 1295% over the years.

What is the land classification for Duraiswamy Street?

Duraiswamy Street is classified as Residential Special Type - II.

Which Sub Registrar Office is responsible for Duraiswamy Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,08,000.