Guideline Value for INDIRA GANDHI STREET

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Manali village, under the Thiruvottiyur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has seen several revisions over the years. Starting from Rs 85 per sq.ft in 2002, it increased to Rs 97 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, which was a 106% increase. Following that, the value surged to Rs 1,100 per sq.ft in 2012, reflecting a remarkable 450% change. However, it dropped to Rs 737 per sq.ft in 2017, which was a decline of 33%. The guideline value then increased to Rs 1,100 per sq.ft in 2023, showing a 49% rise, and finally, it reached Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase.

There are no figures available for the revisions in the years not mentioned in the register for this street. The overall change from 2002 to 2024 is a significant increase of 1312%.

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 Indira Gandhi Street.

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

Stamp duty and registration fee for property in Indira 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 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, making the total fees together 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 Indira Gandhi Street?

The Sub Registrar Office that covers Indira 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 details.

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

The guideline value is a crucial factor when buying or selling property in Manali. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not sold for less than its assessed value, thereby protecting the interests of both buyers and sellers.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This process helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira 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 85 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, showing an overall increase of 1312%.

What are the other streets in Manali with the same guideline value?

Other streets in Manali with the same 2024 guideline value of Rs 1,200 per sq.ft include Idapalayam, Jaageer Hussain Street, Harikrishnapuram, Harikrishnan Perumal Koil Street, Jalaganda Mariamman Koil Street, and Grama Street.

What are the fees associated with buying property on Indira Gandhi Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,08,000.

Where can I find more information about the Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office covers Indira Gandhi Street. For more details, you can visit the official website to find your SRO.