Guideline Value for MANALI EXPRESS ROAD

Manali Express Road guideline value

The current guideline value of Manali Express Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Manali village, under the Thiruvottiyur SRO, and falls under the land classification of Mixed Special Type - I.

How the guideline value of Manali Express Road has changed

The guideline value for Manali Express Road has seen significant changes over the years. In the 2002 revision, the value was Rs 205 per sq.ft, which increased to Rs 234 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 250 per sq.ft in 2007, showing a 7% increase. A substantial jump occurred in the 2012 revision when the value reached Rs 3,000 per sq.ft, reflecting an increase of 1,100%. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, a decline of 33%. The guideline value then rose to Rs 3,000 per sq.ft in the 2023 revision, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,510%. There are no figures available for the revisions in years other than those specified.

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, with a median value of Rs 1,200 per sq.ft. The guideline value for Manali Express Road is above this median.

• Maa.Po.Si Street: Rs 1,200 per sq.ft (2024)
• Mathur Salai (Periya Thoppu): Rs 1,200 per sq.ft (2024)
• Lal Bahadhur Sasthri Street: Rs 1,500 per sq.ft (2024)
• M.G.R. 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)

Stamp duty and registration fee for property in Manali Express Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Manali Express Road?

The Sub Registrar Office that covers Manali Express Road 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 is a crucial factor when registering property transactions in Manali. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These costs are essential to factor in, as they are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Manali Express Road?

The current guideline value of Manali Express Road is Rs 3,300 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 205 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 1,510% over this period.

What is the registration fee for property in Manali Express Road?

The registration fee for property in Manali Express Road is calculated based on the guideline value. For example, a property with a guideline value of Rs 33,00,000 would incur a registration fee of Rs 66,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Manali Express Road?

The Sub Registrar Office for Manali Express Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.