Guideline Value for SOKKAMMAL KULAM STREET

Sokkammal Kulam Street guideline value

The current guideline value of Sokkammal Kulam Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, and the land classification is Mixed Special Type - III.

How the guideline value of Sokkammal Kulam Street has changed

Over the years, the guideline value of Sokkammal Kulam Street has seen several revisions. Starting from the 2002 revision, the guideline value was Rs 90 per sq.ft. This increased to Rs 103 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, reflecting a 94% increase. By 2012, the value was Rs 1,400 per sq.ft, which was a substantial 600% increase from the previous revision. However, it dropped to Rs 938 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw the value rise to Rs 1,400 per sq.ft, followed by another increase to Rs 1,500 per sq.ft in 2024, which is a 7% increase.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1567%.

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, with a median value of Rs 1,200 per sq.ft. Sokkammal Kulam Street's 2024 figure of Rs 1,500 per sq.ft is above this median.

• Shake Ansar Street: Rs 1,200 per sq.ft (2024)
• Srinivasan Street: Rs 1,500 per sq.ft (2024)
• Srinivasa Perumal Koil Street Mullai Garden: Rs 1,500 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,200 per sq.ft (2024)
• Sar.C.V. Raman Street: Rs 1,200 per sq.ft (2024)
• Santhanakrishnan Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sokkammal Kulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sokkammal Kulam Street?

The Sub Registrar Office that covers Sokkammal Kulam 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 used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the fees reflect the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sokkammal Kulam Street?

The current guideline value of Sokkammal Kulam Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 90 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 1567% over the years.

What is the land classification of Sokkammal Kulam Street?

Sokkammal Kulam Street is classified as Mixed Special Type - III.

What is the registration office for Sokkammal Kulam Street?

The registration office for Sokkammal Kulam Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a total fee of Rs 1,35,000.