Guideline Value for NEDUNCOMHEZHIYAN ROAD

Neduncomhezhiyan Road guideline value

The current guideline value of Neduncomhezhiyan Road is Rs 1,500 per sq.ft, effective from 1 July 2024. This road is located in Manali village under the Thiruvottiyur SRO, classified as Mixed Special Type - III.

How the guideline value of Neduncomhezhiyan Road has changed

The guideline value for Neduncomhezhiyan Road has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was set at Rs 500 per sq.ft. This figure increased significantly to Rs 1,400 per sq.ft in 2012, marking a substantial rise of 180%. However, it then dropped to Rs 938 per sq.ft in 2017, reflecting a decrease of 33%. The value continued to rise to Rs 1,400 per sq.ft in 2023, before reaching the current value of Rs 1,500 per sq.ft in 2024, which is an increase of 7% from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Manali

In Manali, 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. The guideline value of Neduncomhezhiyan Road is above this median.

• Nehruji Nagar: Rs 1,500 per sq.ft (2024)
• Mu. Varadharajan Street: Rs 1,200 per sq.ft (2024)
• Muthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• N.S.K. Street: Rs 1,500 per sq.ft (2024)
• Munuswamy Mudaliar Street / Munuswamy Street: Rs 1,200 per sq.ft (2024)
• Paadasalai Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Neduncomhezhiyan Road

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. 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 Neduncomhezhiyan Road?

The Sub Registrar Office that covers Neduncomhezhiyan 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 Manali

The guideline value plays a crucial role in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Manali, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Neduncomhezhiyan Road?

The current guideline value of Neduncomhezhiyan Road 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 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the median guideline value in Manali?

The median guideline value in Manali is Rs 1,200 per sq.ft, with Neduncomhezhiyan Road's current value being above this median.

What are the stamp duty and registration fees for property in Neduncomhezhiyan Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,35,000.

Which office handles the registration for properties on Neduncomhezhiyan Road?

The Thiruvottiyur Sub Registrar Office handles the registration for properties on Neduncomhezhiyan Road, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.