Guideline Value for GRAMA STREET

Grama Street guideline value

The current guideline value of Grama 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 Grama Street has changed

The guideline value for Grama Street has undergone several revisions since 2007. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012, marking a 450% rise. However, in 2017, it decreased to Rs 737 per sq.ft, a drop of 33%. The value then rose again to Rs 1,100 per sq.ft in 2023, and most recently, it has reached Rs 1,200 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year. The register has no figure for this street in the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 500%. The 2024 figure of Rs 1,200 per sq.ft aligns with the median guideline value for the 84 streets in Manali under the Thiruvottiyur SRO, which ranges from Rs 1,001 to Rs 3,300 per sq.ft.

Guideline values in Manali

In Manali, the guideline values for the 2024 revision range from Rs 1,001 to Rs 3,300 per sq.ft, with a median of Rs 1,200 per sq.ft. Grama Street's guideline value of Rs 1,200 per sq.ft is equal to this median.

• Harikrishnan Perumal Koil Street: Rs 1,200 per sq.ft (2024)
• Harikrishnapuram: Rs 1,200 per sq.ft (2024)
• Idapalayam (Puratcomhikavi Bharathidasan Street): Rs 1,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,200 per sq.ft (2024)
• Jaageer Hussain Street: Rs 1,200 per sq.ft (2024)
• Gandhi Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grama Street?

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Manali. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Grama Street?

The current guideline value of Grama 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 significantly 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 Grama Street?

Grama Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in Grama Street?

Stamp duty for properties in Grama Street is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.