Guideline Value for PATTU STREET

Pattu Street guideline value

The current guideline value of Pattu Street in Manali village, under the Thiruvottiyur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Pattu Street has changed

Over the years, the guideline value of Pattu Street has seen several revisions. In 2007, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in 2012, marking a rise of 450%. However, in 2017, the value dropped to Rs 737 per sq.ft, a decrease of 33%. The value then rose to Rs 1,100 per sq.ft in 2023, followed by another increase to Rs 1,200 per sq.ft in 2024, representing a 9% increase.

Notably, the register has no figures for Pattu Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Manali

In Manali village, 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 is Rs 1,200 per sq.ft, which is equal to the current value of Pattu Street.

• Periya Thoppu (Kaal Thottam): Rs 1,200 per sq.ft (2024)
• Periya Thoppu Selva Vinayagar Koil Street: Rs 1,200 per sq.ft (2024)
• Pallikooda Street: Rs 1,500 per sq.ft (2024)
• Perumal Koil Street: Rs 1,500 per sq.ft (2024)
• Paadasalai Street: Rs 1,500 per sq.ft (2024)
• Ponneri High Road: Rs 1,005 per sq.ft (2024)

Stamp duty and registration fee for property in Pattu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. 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 Pattu Street?

Pattu Street falls under 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 when buying or selling property in Manali. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is the basis for these fees, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps establish a standard value for the property, which is important for legal and financial purposes. This ensures transparency in property transactions and helps in maintaining a fair process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Pattu Street?

The current guideline value of Pattu Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024, marking a total increase of 500% over the years.

Which Sub Registrar Office covers Pattu Street?

Pattu Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for properties on Pattu Street?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

What is the land classification of Pattu Street?

Pattu Street is classified as Residential Special Type - II, which influences its guideline value and usage for property transactions.