Guideline Value for Manali High Road

Manali High Road guideline value

The current guideline value of Manali High Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Manali High Road has changed

The guideline value for Manali High Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 22%. Between 2017 and 2023, there was a significant rise of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, which is also the current guideline value for Manali High Road.

• Mettu Street: Rs 2,200 per sq.ft (2024)
• Milk Colony Road / Palpannai Road: Rs 2,200 per sq.ft (2024)
• Lakshmiamman Nagar: Rs 1,900 per sq.ft (2024)
• Lakshmiamman Koil Street: Rs 2,200 per sq.ft (2024)
• M.R. Dharmalingam Salai: Rs 1,900 per sq.ft (2024)
• Munusamy Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Manali High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Manali High Road?

The Sub Registrar Office that covers Manali High Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transfer process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Manali High Road?

The current guideline value of Manali High Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 22% over the period.

What is the stamp duty rate for properties on Manali High Road?

The stamp duty rate for properties on Manali High Road is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets in Selavoyal with similar guideline values?

Other streets in Selavoyal with a guideline value of Rs 2,200 per sq.ft include Mettu Street, Milk Colony Road / Palpannai Road, and Lakshmiamman Koil Street.