Guideline Value for SRINIVASAN STREET

Srinivasan Street guideline value

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

How the guideline value of Srinivasan Street has changed

The guideline value for Srinivasan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 93 per sq.ft, which increased to Rs 106 per sq.ft in 2003. Following this, there was a significant rise to Rs 200 per sq.ft in 2007, and by 2012, the value had reached Rs 1,400 per sq.ft. However, this was followed by a decrease to Rs 938 per sq.ft in 2017. The value then increased to Rs 1,400 per sq.ft in 2023, before reaching the current figure of Rs 1,500 per sq.ft in 2024. The changes between these revisions include an increase of 7% from 2023 to 2024, a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, a substantial increase of 600% from 2007 to 2012, an 89% increase from 2003 to 2007, and a 14% increase from 2002 to 2003.

Overall, from 2002 to 2024, the guideline value has increased by 1513%. There are no figures available for revisions other than those listed above.

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. The guideline value of Srinivasan Street is above this median.

• Srinivasa Perumal Koil Street Mullai Garden: Rs 1,500 per sq.ft (2024)
• Sokkammal Kulam Street: Rs 1,500 per sq.ft (2024)
• Sundaram Street: Rs 1,200 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 Srinivasan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Srinivasan Street?

The Sub Registrar Office that covers Srinivasan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Manali. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. This value helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Srinivasan Street?

The current guideline value of Srinivasan 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 seen several changes, increasing from Rs 93 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, which is a total increase of 1513% over the years.

What is the land classification for Srinivasan Street?

Srinivasan Street is classified as Mixed Special Type - III under the land classification system.

What are the stamp duty and registration fees for properties on Srinivasan Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000, and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where can I find the Sub Registrar Office for Srinivasan Street?

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