Guideline Value for LAL BAHADHUR SASTHRI STREET

Lal Bahadhur Sasthri Street guideline value

The current guideline value of Lal Bahadhur Sasthri Street is Rs 1,500 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 Mixed Special Type - III.

How the guideline value of Lal Bahadhur Sasthri Street has changed

The guideline value for Lal Bahadhur Sasthri Street has seen significant changes over the years. In 2002, the guideline value was Rs 93 per sq.ft, which increased to Rs 106 per sq.ft in 2003. Following this, the value rose to Rs 200 per sq.ft in 2007, marking a substantial increase of 89%. The 2012 revision set the value at Rs 1,400 per sq.ft, reflecting a remarkable increase of 600% from the previous revision. However, this value decreased to Rs 938 per sq.ft in 2017, showing a decline of 33%. The guideline value then rose again to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1513%. The register has no figures for the years not mentioned in this analysis.

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, placing Lal Bahadhur Sasthri Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Lal Bahadhur Sasthri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Lal Bahadhur Sasthri Street?

The Lal Bahadhur Sasthri Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific 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 in the registration process when buying or selling property in Manali. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are applied appropriately based on the property's value.

When registering a property, the guideline value helps determine the official valuation for the transaction, which is essential for both buyers and sellers. It is important to be aware of the current guideline value to understand the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Lal Bahadhur Sasthri Street?

The current guideline value of Lal Bahadhur Sasthri Street is Rs 1,500 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 93 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Lal Bahadhur Sasthri Street?

The land classification for Lal Bahadhur Sasthri Street is Mixed Special Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,35,000.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find more information on how to locate your SRO.