Guideline Value for RAJAPADAR MUDALIAR STREET

Rajapadar Mudaliar Street guideline value

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

How the guideline value of Rajapadar Mudaliar Street has changed

The guideline value for Rajapadar Mudaliar Street has undergone several revisions over the years. In 2002, the value was Rs 80 per sq.ft, which increased to Rs 90 per sq.ft in 2003. The value saw a significant jump to Rs 200 per sq.ft in 2007, followed by a rise to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017 before climbing back to Rs 1,100 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 1,200 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The value surged by 450% from 2007 to 2012. Between 2002 and 2024, the overall increase is a substantial 1,400%. The changes reflect the evolving landscape of the area, with no figures available for revisions in years other than those mentioned.

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 equal to the current guideline value of Rajapadar Mudaliar Street.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajapadar Mudaliar Street?

The Sub Registrar Office that covers Rajapadar Mudaliar Street 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 is an essential factor in the registration process when buying or selling property in Manali. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Rajapadar Mudaliar Street?

The current guideline value of Rajapadar Mudaliar 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 is the land classification of Rajapadar Mudaliar Street?

Rajapadar Mudaliar Street is classified as Residential Special Type - II according to the guidelines.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Rajapadar Mudaliar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,200 per sq.ft would incur a total stamp duty and registration fee of Rs 1,08,000.