Guideline Value for SRINIVASA PERUMAL KOIL STREET MULLAI GARDEN

Srinivasa Perumal Koil Street Mullai Garden guideline value

The current guideline value of Srinivasa Perumal Koil Street Mullai Garden is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village, under the Thiruvottiyur SRO, and is classified as Mixed Special Type - III.

How the guideline value of Srinivasa Perumal Koil Street Mullai Garden has changed

The guideline value for Srinivasa Perumal Koil Street Mullai Garden has seen several revisions over the years. The earliest figure recorded was Rs 109 per sq.ft in 2002. This increased to Rs 125 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 300 per sq.ft in 2007, reflecting a 140% increase. In 2012, the guideline value reached Rs 1,400 per sq.ft, representing a substantial 367% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 938 per sq.ft, which is a decline of 33%. However, from 2017 to 2023, the value increased to Rs 1,400 per sq.ft, showing a notable rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, marking a 7% increase from the previous year.

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 Srinivasa Perumal Koil Street is above this median.

• Srinivasan Street: Rs 1,500 per sq.ft (2024)
• Sundaram Street: Rs 1,200 per sq.ft (2024)
• Sokkammal Kulam Street: Rs 1,500 per sq.ft (2024)
• Thamaraikulam Street: Rs 1,500 per sq.ft (2024)
• Shake Ansar Street: Rs 1,200 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Koil Street Mullai Garden

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, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Srinivasa Perumal Koil Street Mullai Garden?

The Sub Registrar Office that covers Srinivasa Perumal Koil Street Mullai Garden is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Manali

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Manali, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Additionally, the guideline value helps in establishing a fair basis for property transactions, providing transparency in the registration process. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Koil Street Mullai Garden?

The current guideline value of Srinivasa Perumal Koil Street Mullai Garden 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 changed significantly from Rs 109 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1276% over the years.

What is the land classification for this street?

Srinivasa Perumal Koil Street Mullai Garden is classified as Mixed Special Type - III under the land classification system.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.