Guideline Value for KOLLU MEDU

Kollu Medu guideline value

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

How the guideline value of Kollu Medu has changed

The guideline value for Kollu Medu has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 79 per sq.ft. This figure increased to Rs 89 per sq.ft in 2003, marking a 13% rise. The value continued to rise significantly, reaching Rs 200 per sq.ft in 2007, which was a 125% increase from the previous revision. The 2012 revision set the value at Rs 1,100 per sq.ft, reflecting a substantial increase of 450% from 2007. However, the value dropped to Rs 737 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 1,100 per sq.ft in 2023, a 49% rise from 2017. The latest revision in 2024 has set the guideline value at Rs 1,200 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,419%.

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, and Kollu Medu's 2024 figure aligns with this median.

• Kuttiyappan Street: Rs 1,200 per sq.ft (2024)
• Labbai Medu: Rs 1,200 per sq.ft (2024)
• Lal Bahadhur Sasthri Street: Rs 1,500 per sq.ft (2024)
• Maa.Po.Si Street: Rs 1,200 per sq.ft (2024)
• Kamarajar Salai: Rs 2,200 per sq.ft (2024)
• Manali Express Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kollu Medu

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, bringing the total to Rs 1,08,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kollu Medu?

The Sub Registrar Office that covers Kollu Medu 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 plays a crucial role during property registration in Manali. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value at which property transactions are recorded.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should also note that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kollu Medu?

The current guideline value of Kollu Medu 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 79 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 1,419% over this period.

What are the stamp duty and registration fees for properties in Kollu Medu?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 12,00,000, the total fees would amount to Rs 1,08,000.

Which office handles registrations for Kollu Medu?

The Thiruvottiyur Sub Registrar Office handles registrations for Kollu Medu, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It reflects the minimum value for registering properties and ensures compliance with local regulations.