Guideline Value for Manali Road

Manali Road guideline value

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

How the guideline value of Manali Road has changed

The guideline value for Manali Road has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 122%. Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Manali Road is above this median.

• Manigandan 1st Street: Rs 2,200 per sq.ft (2024)
• Manigandan 2nd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 3rd Street: Rs 2,200 per sq.ft (2024)
• Manigandan 4th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 5th Street: Rs 2,200 per sq.ft (2024)
• Manigandan 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Manali 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, bringing the total to 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Manali Road?

The Sub Registrar Office covering Manali Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is crucial during property transactions in Tondaiarpet, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Manali Road?

The current guideline value of Manali 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 changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the classification of land on Manali Road?

Manali Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is generally set at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Manali Road?

The Sub Registrar Office for Manali Road is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.