Guideline Value for KUTTIYAPPAN STREET

Kuttiyappan Street guideline value

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

How the guideline value of Kuttiyappan Street has changed

Over the years, the guideline value of Kuttiyappan Street has seen several revisions. The earliest recorded figure is from 2002, which was Rs 79 per sq.ft. This value increased to Rs 89 per sq.ft in 2003, marking a 13% rise. In 2007, the guideline value jumped significantly to Rs 200 per sq.ft, reflecting a 125% increase. Following this, in 2012, the value remained at Rs 1,100 per sq.ft, as the register has no figure for this street for that year. The next revision occurred in 2017, where the value decreased to Rs 737 per sq.ft, a drop of 33%. The guideline value then increased to Rs 1,100 per sq.ft in 2023, and finally, it reached Rs 1,200 per sq.ft in 2024, representing a 9% increase from the previous year.

In summary, from 2002 to 2024, the overall increase in the guideline value for Kuttiyappan Street is 1,419%. The changes between the revisions highlight the fluctuations in property values over time, with significant jumps noted in certain periods.

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 aligns with the current guideline value of Kuttiyappan Street.

• 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)
• Kollu Medu: Rs 1,200 per sq.ft (2024)
• Manali Express Road: Rs 3,300 per sq.ft (2024)
• Mathur Salai (Periya Thoppu): Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kuttiyappan 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, bringing the total fees together to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuttiyappan Street?

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

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, as it determines the minimum value at which a property can be registered. It is essential for both the buyer and seller to be aware of the current guideline value to ensure compliance with registration requirements.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kuttiyappan Street?

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

What is the registration office for Kuttiyappan Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000.

What land classification does Kuttiyappan Street fall under?

Kuttiyappan Street falls under the land classification of Residential Special Type - II, which is relevant for determining its guideline value and other regulatory aspects.