Guideline Value for PAADASALAI STREET

Paadasalai Street guideline value

The current guideline value of Paadasalai 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 Paadasalai Street has changed

The guideline value for Paadasalai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 92 per sq.ft. This figure increased significantly to Rs 178 per sq.ft in 2003, marking a change of +93%. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which represented an increase of +181%. After a notable jump to Rs 1,400 per sq.ft in 2012, the value saw a decrease to Rs 938 per sq.ft in 2017, reflecting a change of -33%. The most recent revisions saw the value increase to Rs 1,400 per sq.ft in 2023 and then to Rs 1,500 per sq.ft in 2024, with a change of +7% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1530%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Manali

In Manali, there are 84 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,200 per sq.ft, placing Paadasalai Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Paadasalai Street

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

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

Which Sub Registrar Office covers Paadasalai Street?

The Sub Registrar Office that covers Paadasalai 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 plays a crucial role in the registration process when buying or selling property in Manali. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

During the registration process, buyers and sellers must consider the guideline value to calculate applicable duties and fees. This ensures compliance with local regulations and helps in accurately assessing the financial implications of the property transaction.

Frequently asked questions

What is the current guideline value of Paadasalai Street?

The current guideline value of Paadasalai Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 92 per sq.ft to Rs 1,500 per sq.ft in 2024, reflecting a total increase of +1530% over this period.

What are the other streets in Manali with the same guideline value?

Other streets in Manali with the same guideline value of Rs 1,500 per sq.ft include N.S.K. Street, Pallikooda Street, Nehruji Nagar, and Neduncomhezhiyan Road.

What are the registration fees for properties in Paadasalai Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000 in fees.

Which Sub Registrar Office handles registrations for Paadasalai Street?

The Thiruvottiyur Sub Registrar Office handles registrations for Paadasalai Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.