Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi 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 Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in the 2012 revision, marking a 450% rise. However, in the 2017 revision, the value decreased to Rs 737 per sq.ft, a decline of 33%. The value then rose to Rs 1,100 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,200 per sq.ft in the 2024 revision, which is a 9% rise from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%. The 2024 figure aligns with the median value of Rs 1,200 per sq.ft among the 84 streets in Manali under the Thiruvottiyur SRO.

Guideline values in Manali

In Manali, the guideline values range from Rs 1,001 to Rs 3,300 per sq.ft as of the 2024 revision. Gandhi Street's current guideline value of Rs 1,200 per sq.ft is equal to the median value for the area. Below are other streets in Manali with their respective guideline values:

• E.V.R. Periyar Road: Rs 1,200 per sq.ft (2024)
• Ettiyappan Street: Rs 1,200 per sq.ft (2024)
• Ekambara Pillai Street: Rs 1,200 per sq.ft (2024)
• Grama Street: Rs 1,200 per sq.ft (2024)
• Duraiswamy Street: Rs 1,200 per sq.ft (2024)
• Duraiswamy Iyar Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi 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 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 Gandhi Street?

The Sub Registrar Office that covers Gandhi 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 in property transactions in Manali. It is used to determine the stamp duty and registration fees applicable during the registration of property sales. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for assessing the transaction value. This ensures that the taxes collected are based on a standardized valuation rather than individual sale prices, which may vary widely.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi 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 200 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 500% over the years.

What is the land classification of Gandhi Street?

Gandhi Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Gandhi Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 84,000, and the registration fee is Rs 24,000, totaling Rs 1,08,000.

Which office handles the registration for Gandhi Street?

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