Guideline Value for KALAIGNAR STREET

Kalaignar Street guideline value

The current guideline value of Kalaignar 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 Kalaignar Street has changed

The guideline value for Kalaignar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 160 per sq.ft. This increased to Rs 183 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, which was an increase of 119%. The 2012 revision saw the value at Rs 1,100 per sq.ft, a substantial increase of 175% from the previous revision. However, this figure dropped by 33% to Rs 737 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 1,100 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,200 per sq.ft, reflecting a 9% increase from the previous year. There are no revisions without figures for this street in the register.

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 guideline value for these streets is Rs 1,200 per sq.ft, which is the same as the guideline value for Kalaignar Street.

• Kakkanji Street: Rs 1,200 per sq.ft (2024)
• Kamarajar Salai: Rs 2,200 per sq.ft (2024)
• Jeevanandam Street: Rs 1,200 per sq.ft (2024)
• Jalaganda Mariamman Koil Street: Rs 1,200 per sq.ft (2024)
• Jaageer Hussain Street: Rs 1,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar 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 be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees 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.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kalaignar Street?

The Sub Registrar Office that covers Kalaignar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Manali. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When a property is registered, the guideline value helps determine the minimum value on which taxes are levied. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Kalaignar Street?

The current guideline value of Kalaignar 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 several times, starting from Rs 160 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, showing an overall increase of 650% over the years.

Where can I find the registration office for Kalaignar Street?

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

What is the median guideline value for streets in Manali?

The median guideline value for streets in Manali is Rs 1,200 per sq.ft, which is the same as the guideline value for Kalaignar Street.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total fees are based on the higher of the guideline value or the sale price.