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 Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Manali Express Road has changed

The guideline value for Manali Express Road has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, and currently stands at Rs 3,300 per sq.ft following the 2024 revision, which reflects a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 230%. The changes between the revisions indicate fluctuations, with the most significant rise occurring between 2012 and 2017, followed by a steady increase in the subsequent years.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Manali Express Road.

• Mallikapuram: Rs 2,150 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,900 per sq.ft (2024)
• Manikkam Nagar: Rs 3,300 per sq.ft (2024)
• Manikkam Nagar Extn: Rs 3,300 per sq.ft (2024)
• Madura Nagar: Rs 1,500 per sq.ft (2024)
• Market Lane Kaladipet: Rs 2,800 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 amount to 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 and the sale price. You can use the stamp duty and registration fee calculator for more information.

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. For additional information, you can find your SRO.

How the guideline value is used when you buy or sell in Thiruvottiyur

The guideline value is a crucial factor when buying or selling property in Thiruvottiyur. It serves as the minimum value at which a property can be registered, ensuring that the transaction is documented accurately with the local authorities. Buyers and sellers must consider this value to determine the applicable stamp duty and registration fees during the property transaction process.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for legal ownership transfer. This value is updated periodically, reflecting changes in the real estate market, which can impact the overall cost of property transactions.

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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over this period.

What are the stamp duty rates applicable for properties on Manali Express Road?

The stamp duty for properties on Manali Express Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Manali Express Road located?

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

What is the land classification for Manali Express Road?

The land classification for Manali Express Road is Residential Special Type - I, indicating its suitability for residential purposes.