Guideline Value for M.P.S. STREET

M.P.S. Street guideline value

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

How the guideline value of M.P.S. Street has changed

Over the years, the guideline value of M.P.S. Street has seen several revisions. The earliest recorded figure is from 2003, which was Rs 118 per sq.ft. This increased to Rs 200 per sq.ft in 2007, then jumped significantly to Rs 1,100 per sq.ft in 2012. However, the value decreased to Rs 737 per sq.ft in 2017. The 2023 revision set the value at Rs 1,100 per sq.ft, which then rose to Rs 1,200 per sq.ft in 2024.

From 2003 to 2024, the guideline value has increased by 917%. The changes between the revisions include a 69% increase from 2003 to 2007, a 450% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Manali

In Manali, 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, with the median value being Rs 1,200 per sq.ft. M.P.S. Street's current guideline value matches this median.

• Mulapuram Road (Barathiar Street): Rs 1,200 per sq.ft (2024)
• Munuswamy Mudaliar Street / Munuswamy Street: Rs 1,200 per sq.ft (2024)
• M.G.R. Street: Rs 1,200 per sq.ft (2024)
• Muthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• Mu. Varadharajan Street: 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 M.P.S. 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, while the registration fee at 2% would be Rs 24,000, bringing the total 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. You can use our stamp duty and registration fee calculator for more assistance.

Which Sub Registrar Office covers M.P.S. Street?

The M.P.S. Street is covered by 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 is a crucial factor during the registration process of property transactions in Manali. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are applicable. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of M.P.S. Street?

The current guideline value of M.P.S. 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 118 per sq.ft in 2003 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 917% over the years.

What is the land classification for M.P.S. Street?

M.P.S. Street is classified as Residential Special Type - II under the current guidelines.

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.

How is stamp duty calculated for properties in M.P.S. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000 at 7%.