Guideline Value for RAGHAVAN STREET

Raghavan Street guideline value

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

How the guideline value of Raghavan Street has changed

Over the years, the guideline value of Raghavan Street has seen several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 80 per sq.ft. This increased to Rs 90 per sq.ft in 2003, marking a 13% rise. The value then saw significant growth, reaching Rs 200 per sq.ft in 2007, which was a 122% increase. In 2012, the value was Rs 1,100 per sq.ft, reflecting a substantial 450% increase from the previous revision. However, it dropped to Rs 737 per sq.ft in 2017, a decrease of 33% from 2012. The value then rose again to Rs 1,100 per sq.ft in 2023, representing a 49% increase. Finally, the latest revision in 2024 set the value at Rs 1,200 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for revisions in the years not listed here. Overall, from 2002 to 2024, the guideline value has increased by 1,400%.

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. The median value is Rs 1,200 per sq.ft, which is the same as the current guideline value for Raghavan Street.

• Rajapadar Mudaliar Street: Rs 1,200 per sq.ft (2024)
• P.R.K. Sharma Street: Rs 1,500 per sq.ft (2024)
• Raja Thottam: Rs 1,200 per sq.ft (2024)
• Poongavanam Street: Rs 1,200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,200 per sq.ft (2024)
• Poombukar Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan 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, leading to a total of 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raghavan Street?

The Sub Registrar Office that covers Raghavan 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 during the registration of property transactions in Manali. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that all transactions are recorded accurately. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Raghavan Street?

The current guideline value of Raghavan 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 from Rs 80 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, showing an overall increase of 1,400% over the years.

What are the stamp duty rates applicable for properties in Raghavan Street?

The stamp duty rate for properties in Raghavan Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Raghavan Street?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets in Manali have the same guideline value?

Other streets in Manali with a guideline value of Rs 1,200 per sq.ft include Rajapadar Mudaliar Street, Raja Thottam, Poongavanam Street, Rajiv Gandhi Street, and Poombukar Nagar.