Guideline Value for N.S.K. STREET

N.S.K. Street guideline value

The current guideline value of N.S.K. Street in Manali village, under the Thiruvottiyur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Special Type - III.

How the guideline value of N.S.K. Street has changed

The guideline value for N.S.K. Street has undergone 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, reflecting a change of +14%. The value saw a significant rise to Rs 200 per sq.ft in 2007, marking an increase of +89%. By 2012, the value was Rs 1,400 per sq.ft, a substantial jump of +600%. However, it decreased to Rs 938 per sq.ft in 2017, which was a decline of -33%. The subsequent revision in 2023 brought the value back up to Rs 1,400 per sq.ft, and the latest revision in 2024 set it at Rs 1,500 per sq.ft, representing a change of +7%.

Overall, from 2002 to 2024, the guideline value has increased by +1513%. There are no figures available for the revisions in years other than those specified.

Guideline values in Manali

In Manali village, 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. N.S.K. Street's current figure of Rs 1,500 per sq.ft is above this median.

• Paadasalai Street: Rs 1,500 per sq.ft (2024)
• Pallikooda Street: Rs 1,500 per sq.ft (2024)
• Nehruji Nagar: Rs 1,500 per sq.ft (2024)
• Neduncomhezhiyan Road: Rs 1,500 per sq.ft (2024)
• Pattu Street: Rs 1,200 per sq.ft (2024)
• Periya Thoppu (Kaal Thottam): Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.K. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers N.S.K. Street?

The Sub Registrar Office that covers N.S.K. Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Manali. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the transaction is recorded accurately and that the necessary fees are paid accordingly.

Frequently asked questions

What is the current guideline value of N.S.K. Street?

The current guideline value of N.S.K. Street is Rs 1,500 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 1,500 per sq.ft in 2024, reflecting an overall increase of +1513% over the years.

What is the land classification for N.S.K. Street?

The land classification for N.S.K. Street is Mixed Special Type - III.

Where can I find the registration office for N.S.K. Street?

The registration office for N.S.K. Street 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 N.S.K. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 15,00,000 would incur a stamp duty of Rs 1,05,000 at 7%.