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 Ernavur village and falls under the Thiruvottiyur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Manali Express Road has changed

The guideline value for Manali Express Road has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 206 per sq.ft. This increased to Rs 235 per sq.ft in 2003, marking a rise of approximately 14%. Subsequently, the value saw a significant increase of 326% to reach Rs 1,000 per sq.ft in 2007. The 2012 revision recorded the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous figure. In 2017, the value rose again to Rs 2,010 per sq.ft, an increase of 49% from 2012. The most recent revision in 2023 set the guideline value at Rs 3,000 per sq.ft, and it has now increased by 10% to Rs 3,300 per sq.ft in 2024.

There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Manali Express Road is above this median.

• Mahalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,400 per sq.ft (2024)
• Maakaliamman Koil Nagar: Rs 1,400 per sq.ft (2024)
• Mettu Street: Rs 1,400 per sq.ft (2024)
• Mullai Nagar: Rs 1,600 per sq.ft (2024)
• MURUGAPPA NAGAR (Barathi Street): Rs 1,800 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 amounts to 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 guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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 Ernavur

The guideline value is a crucial factor in the registration process when buying or selling property in Ernavur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Manali Express Road?

The current guideline value for 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 seen several revisions, starting from Rs 206 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of 1502% over the years.

What is the land classification for Manali Express Road?

The land classification for Manali Express Road is Commercial Class I Type - II, indicating its suitability for commercial activities.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000.