Guideline Value for Manali Express Road

Manali Express Road guideline value

The current guideline value of Manali Express Road is Rs 3,400 per sq.ft, effective from 1 July 2024. This road is located in Satthankadu village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Manali Express Road has changed

The guideline value for Manali Express Road has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012. However, it saw a decrease to Rs 2,077 per sq.ft in 2017. The 2023 revision marked an increase to Rs 3,100 per sq.ft, followed by a further increase to Rs 3,400 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 467%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which is the same as the current guideline value for Manali Express Road.

• Mettu Street: Rs 3,400 per sq.ft (2024)
• M.G.R. Salai: Rs 3,800 per sq.ft (2024)
• Kumaran Nagar: Rs 3,400 per sq.ft (2024)
• Kavari Street: Rs 3,400 per sq.ft (2024)
• Kavarai street: Rs 3,400 per sq.ft (2024)
• Natraja Gramani Chettiar street: Rs 3,400 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 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate the applicable fees, ensuring transparency in property transactions.

When registering a property, the guideline value helps to establish the official value of the property being transferred. This value is essential for both the buyer and seller to understand the financial implications of the transaction, including the costs associated with registration.

Frequently asked questions

What is the current guideline value of Manali Express Road?

The current guideline value of Manali Express Road is Rs 3,400 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 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over this period.

What is the land classification for Manali Express Road?

The land classification for Manali Express Road is Residential Special Type - III, indicating its designated use for residential purposes.

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 properties in Manali Express Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at 7%.