Guideline Value for SANTHANAKRISHNAN STREET

Santhanakrishnan Street guideline value

The current guideline value of Santhanakrishnan 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 Santhanakrishnan Street has changed

The guideline value for Santhanakrishnan Street has seen several revisions over the years. In 2002, the value was Rs 103 per sq.ft, which increased to Rs 117 per sq.ft in 2003. Following this, there was a significant rise to Rs 200 per sq.ft in 2007, and then a remarkable jump to Rs 1,100 per sq.ft in 2012. However, the value dropped to Rs 737 per sq.ft in 2017 before climbing back to Rs 1,100 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,200 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,065%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Manali

In Manali village, there are a total of 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 guideline value for these streets is Rs 1,200 per sq.ft, which is equal to the current value of Santhanakrishnan Street.

• Sannathi Street: Rs 1,500 per sq.ft (2024)
• Salma Nagar: Rs 1,200 per sq.ft (2024)
• Salai Managar/ 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 Santhanakrishnan Street

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, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Santhanakrishnan Street?

The Sub Registrar Office that covers Santhanakrishnan 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 of property transactions in Manali. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Santhanakrishnan Street?

The current guideline value of Santhanakrishnan 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 103 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with several revisions in between, including a peak of Rs 1,100 per sq.ft in 2012 and 2023.

What is the land classification for Santhanakrishnan Street?

Santhanakrishnan Street is classified as Residential Special Type - II under the Thiruvottiyur SRO.

What are the stamp duty and registration fees for properties on this street?

For a property measuring 1,000 sq.ft, the total guideline value is Rs 12,00,000, leading to a stamp duty of Rs 84,000 and a registration fee of Rs 24,000, totaling Rs 1,08,000.

Where is the Sub Registrar Office for Santhanakrishnan Street located?

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