Guideline Value for SALMA NAGAR

Salma Nagar guideline value

The current guideline value of Salma Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Manali village and falls under the Thiruvottiyur SRO. The land classification for Salma Nagar is Residential Special Type - II.

How the guideline value of Salma Nagar has changed

The guideline value for Salma Nagar has undergone several revisions over the years. In 2002, the value was Rs 93 per sq.ft, which increased to Rs 106 per sq.ft in 2003. The following revisions saw significant changes; in 2007, the value jumped to Rs 200 per sq.ft, and by 2012, it rose to Rs 1,100 per sq.ft. However, it decreased to Rs 737 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,100 per sq.ft in 2023, followed by a further increase to Rs 1,200 per sq.ft in 2024.

Between 2023 and 2024, there was a change of +9%. From 2017 to 2023, the increase was +49%. The 2012 to 2017 period saw a decrease of -33%, while from 2007 to 2012, there was a significant increase of +450%. The value also increased by +89% from 2003 to 2007 and by +14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +1190%.

Guideline values in Manali

In Manali, 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, with a median value of Rs 1,200 per sq.ft. The guideline value for Salma Nagar matches this median.

• Salai Managar/ Street: 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 Salma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total 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, making the total cost 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 Salma Nagar?

The Sub Registrar Office that covers Salma Nagar 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 a crucial 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 that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is in compliance with the regulations set by the Registration Department. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Salma Nagar?

The current guideline value of Salma Nagar 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 93 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Salma Nagar?

Salma Nagar is classified as Residential Special Type - II, according to the land classification records.

Where can I find the Sub Registrar Office for Salma Nagar?

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

How is the stamp duty calculated for property in Salma Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,200 per sq.ft would incur a total stamp duty of Rs 84,000.