Guideline Value for MU. VARADHARAJAN STREET

Mu. Varadharajan Street guideline value

The current guideline value of Mu. Varadharajan Street is Rs 1,200 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 Residential Special Type - II.

How the guideline value of Mu. Varadharajan Street has changed

The guideline value for Mu. Varadharajan Street has seen several revisions over the years. In 2002, the value was Rs 93 per sq.ft, which increased to Rs 106 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped significantly to Rs 200 per sq.ft, reflecting an 89% increase. The 2012 revision showed a value of Rs 1,100 per sq.ft, which was a substantial 450% increase from the previous revision. However, this figure decreased by 33% to Rs 737 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 1,100 per sq.ft, and the latest revision in 2024 set the value at Rs 1,200 per sq.ft, resulting in a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 1190%. There are no figures available for the revisions in years other than those mentioned.

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 a median value of Rs 1,200 per sq.ft. Mu. Varadharajan Street's 2024 figure aligns with this median.

• Muthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• Munuswamy Mudaliar Street / Munuswamy Street: Rs 1,200 per sq.ft (2024)
• Mulapuram Road (Barathiar Street): Rs 1,200 per sq.ft (2024)
• Neduncomhezhiyan Road: Rs 1,500 per sq.ft (2024)
• M.P.S. Street: Rs 1,200 per sq.ft (2024)
• Nehruji Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mu. Varadharajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mu. Varadharajan Street?

The Sub Registrar Office that covers Mu. Varadharajan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your 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 critical factor when registering property transactions in Manali. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the transaction legally. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mu. Varadharajan Street?

The current guideline value of Mu. Varadharajan 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 93 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1190% over the years.

What is the land classification for Mu. Varadharajan Street?

The land classification for Mu. Varadharajan Street is Residential Special Type - II.

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 Mu. Varadharajan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value is Rs 12,00,000, resulting in a stamp duty of Rs 84,000.