Guideline Value for SALAI MANAGAR/ STREET

Salai Managar/ Street guideline value

The current guideline value of Salai Managar/ 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 Salai Managar/ Street has changed

The guideline value for Salai Managar/ Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 85 per sq.ft. In 2003, it increased to Rs 97 per sq.ft, marking a 14% rise. The value saw further increments, reaching Rs 200 per sq.ft in 2007, a significant increase of 106%. By 2012, the guideline value was Rs 1,100 per sq.ft, which represented a 450% increase from the previous revision.

In 2017, the value dropped to Rs 737 per sq.ft, reflecting a decrease of 33%. However, it rebounded in the 2023 revision to Rs 1,100 per sq.ft, and then further increased to the current value of Rs 1,200 per sq.ft in 2024, showing a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 1312%.

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 among these streets is Rs 1,200 per sq.ft, which is the same as the guideline value for Salai Managar/ Street.

• Salma Nagar: Rs 1,200 per sq.ft (2024)
• Sannathi Street: Rs 1,500 per sq.ft (2024)
• Santhanakrishnan Street: Rs 1,200 per sq.ft (2024)
• Sar.C.V. Raman Street: Rs 1,200 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,200 per sq.ft (2024)
• Shake Ansar Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Managar/ 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, making the total cost for these fees 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 Salai Managar/ Street?

The Sub Registrar Office that covers Salai Managar/ 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 is a critical factor in the registration process when buying or selling property in Manali. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It also aids in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Salai Managar/ Street?

The current guideline value of Salai Managar/ 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 significantly from Rs 85 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1312% over the years.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles registrations for Salai Managar/ Street?

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

What is the land classification for Salai Managar/ Street?

Salai Managar/ Street is classified as Residential Special Type - II under the Thiruvottiyur SRO.