Guideline Value

Corporate

Guideline Value for LABBAI MEDU

₹1200/sq.ft.

The guideline value for Labbai Medu in Manali village (Thiruvottiyur SRO, Chennai zone) is Rs 1200 per sq.ft, effective 1 July 2024. It was Rs 1100 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manali

Village

Thiruvottiyur

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹1200 /sq.ft.
From 1-4-2023 ₹1100 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹737 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1100 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹97 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹85 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019
044-25992232
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Labbai Medu guideline value

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

How the guideline value of Labbai Medu has changed

The guideline value of Labbai Medu 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 further increased to Rs 200 per sq.ft in 2007, which was a significant jump of 106%. In 2012, the guideline value was Rs 1,100 per sq.ft, reflecting a 450% increase from the previous revision. However, in 2017, it dropped to Rs 737 per sq.ft, indicating a decrease of 33%. The 2023 revision saw an increase to Rs 1,100 per sq.ft, and the most recent revision in 2024 brought it to Rs 1,200 per sq.ft, a rise of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 1,312%. There are no figures available for the years between the revisions mentioned for this street.

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 for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value of Labbai Medu.

Stamp duty and registration fee for property in Labbai Medu

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, leading to a total of 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Labbai Medu?

The Sub Registrar Office that covers Labbai 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 the registration of property transactions in Manali. It serves as a reference point for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This process helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Labbai Medu?

The current guideline value of Labbai Medu is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value of Labbai Medu 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, reflecting an overall increase of 1,312% over this period.

What is the land classification for Labbai Medu?

Labbai Medu is classified as Residential Special Type - II, which is important for understanding the zoning regulations applicable to the area.

Where can I find the Sub Registrar Office for Labbai Medu?

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

How is the stamp duty calculated for properties in Labbai Medu?

Stamp duty for properties in Labbai Medu is 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 at a rate of 7%.